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