NorthMarq Capital arranges $17 million supplemental financing for Monaco Lakes in Denver, Colorado
Monaco Lakes
DENVER (December 15, 2015) – NorthMarq Capital’s Denver office arranged supplemental financing of $17 million for Monaco Lakes located at 6165 E.Iliff Avenue in Denver, Colorado. Built between1974-1976, the community consists of 426 units contained in five, mid-rise residential buildings. Property amenities include pool, gazebo, three multi-sports courts, dog park and grounds with attractive pond water features with fountains. The clubhouse has large community game room with kitchen, business and fitness centers and conference room. Each building has a laundry room and elevator. Units have balconies or patios with 34 units having fireplaces and 44 units with stacked washer/dryers. A portion of the proceeds will be utilized for the continuation of the unit rehabilitation program on the remaining 216 “classic” units. Greg Benjamin, senior vice president and Jeff DeHarty, associate producer arranged the financing for the borrower, a long-term client of the Denver office.
About Northmarq
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
