NorthMarq arranges $8,500,000 refinance of Napa Place Apartments in Peoria, Arizona
PHOENIX, ARIZONA (August 7, 2019) – James DuMars, senior vice president/managing director and Griffin Martin, senior producer in NorthMarq’s Phoenix-based regional office, negotiated the $8,500,000 refinancing of Napa Place Apartments, a 100-unit multifamily property located at 11600 North 75th Avenue in Peoria, Arizona.
The transaction was structured with a 10-year term with 5-years interest-only followed by a 30-year amortization schedule. NorthMarq secured financing for the borrower through its relationship with Freddie Mac.
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