NorthMarq Capital arranges $22.8 million in acquisition financing for Ocotillo Springs in Chandler, Arizona

Ocotillo Springs
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LOS ANGELES (September 2, 2014) – Michael Elmore, EVP/managing director of NorthMarq Capital’s Los Angeles office and James DuMars, SVP/managing director of NorthMarq Capital’s Phoenix office secured $22.8 million in acquisition financing for Ocotillo Springs, a class “A” 272-unit multifamily property located at 825 W. Queen Creek Road in Chandler, Arizona. The transaction was structured with a 7-year term with 3-years interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its seller/servicer relationship with Freddie Mac.

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 an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.

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