NorthMarq arranges $22.4 million mortgage for Oakwood Corporate Apartments in Gaithersburg, Maryland
Oakwood Corporate Apts
WASHINGTON, D.C. (December 13, 2013) – Gary McGlynn and Jason Smith of NorthMarq’s Washington, D.C. regional office, arranged acquisition financing of $22.4 million for Oakwood Corporate Apartments, a 136-unit, market-rate multifamily property located at 9890 Washingtonian Boulevard in Gaithersburg, Maryland. The asset is a class "A" corporate apartment building operated as an Oakwood Apartment property. NorthMarq arranged this financing for the borrower through one of NorthMarq’s exclusive insurance company capital sources. “This high-rise apartment property is uniquely located in the heart of Washingtonian Center and Rio Entertainment Center, a vibrant mixed-use development in Gaithersburg, Montgomery County, Maryland,” McGlynn said.
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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.
