Northmarq secures $24M Fannie Mae loan for Monument Apartments

Monument Apts
Debt & Equity
Multifamily
Debt
Debt & Equity
Fannie Mae
Fannie Mae/FHA
multifamily community

CHANDLER, Ariz. — Northmarq’s Newport Beach Debt + Equity team successfully secured $24.565 million in acquisition financing for Monument Apartments, a 163-unit multifamily community located at 2300 W. Pecos Rd. in Chandler, Arizona.

The team, led by Scott Botsford, Joe Giordani, Brendan Golding and Matt Radich, arranged financing on behalf of the borrower through Northmarq’s in-house Fannie Mae DUS team. The full-term interest-only loan was structured with a 10-year term and a 1.25 debt coverage ratio.

“This was a fast-moving off-market sale, and the Northmarq Fannie Mae underwriting team was exceptional,” said Botsford. “Our timeline and closing goals were all met, allowing the borrower to lock their rate at their discretion. The result was a seamless process and a great loan execution.”

Built in 2014, Monument Apartments offers one- and two-bedroom units with upscale finishes, stainless steel appliances and spacious layouts. The pet-friendly community is situated near major employers and provides residents with easy access to dining, retail and entertainment options throughout Chandler.

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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.
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