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.
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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.