Northmarq arranged the $5.2 million refinance on an apartment complex located in Boise, Idaho
Owyhee Park Apartments
BOISE, IDAHO (December 19, 2019) – Steve Hollister, senior vice president of NorthMarq’s Boise and San Diego regional offices, arranged the $5.2 million refinance of this asset through a correspondent life insurance company. The loan structure was a non-recourse, 15-year fixed rate loan with a 30-year amortization.
“The lender provided a far superior rate than the competition for a repeat borrower,” said Hollister.
The apartment complex is a 52-unit complex consisting of 1 bed/1 bath and 2 bed/2 bath units in three buildings. Amenities include balconies, walk-in closets, and stainless steel appliances.
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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.
