Multifamily - Debt

NorthMarq Capital’s Denver office arranges $23 million permanent financing for Park Place Old Towne Apartments in Arvada, Colorado

DENVER (March 1, 2016) – NorthMarq Capital’s Denver office arranged financing of $23 million for Park Place Old Towne Apartments located at 5743 Teller Street in Arvada, Colorado. The development consists of a single, 5-story building with 153 residential units (one and two bedroom floor plans). There are 116 covered parking spaces under the building podium in addition to assigned and uncovered surface level spaces. The community features three elevated courtyards, fire pit, pool/spa, fitness center, dog wash, sun deck and outdoor kitchen/lounge area. Unit amenities include washer/dryers, design and finishes customary to new upscale, open floor plans, quartz countertops, stainless steel appliances, oversized balconies, upgraded cabinets/fixtures in addition to oversized soaking tubs and large walk-in closets.

Greg Benjamin, senior vice president and Jeff DeHarty, associate producer arranged the financing for the borrower through its long-term correspondent relationship with a major Midwestern life insurance company.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.