SAN FRANCISCO (March 9, 2018) - Managing Director Jeffrey Haskell and Vice President Tom Wight of NorthMarq Capital’s San Francisco office, arranged a $40.5 Million construction loan for the Gio Apartments, a 213-unit Class A luxury apartment project with 4,500 sq. ft. of ground floor retail near Downtown Sacramento. The 5-story development also includes a four-story parking structure. The project will consist of 22 studios, 130 one-bedroom and 61 two-bedroom apartments, with a ground floor restaurant or retail space. Extensive community amenities will include an expansive lounge area, a roof-top terrace with an outdoor kitchen/lounge, a swimming pool, a state-of-the-art fitness center, artfully landscaped courtyards, and a bike lounge. The Gio Apartments project is ideally situated just off Highway 50 near three of the region’s largest hospitals. The 142-acre UC Davis Medical Center, located two blocks south of the subject, encompasses more than 2.3 million square feet of space and houses more than 6,600 employees. Mercy General Hospital and Sutter Medical Center are located each one mile away. The construction loan request garnered significant interest with a large regional bank providing the most competitive terms, including attractive LIBOR-based pricing, interest-only payments and flexible extension options.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
