NorthMarq Capital arranges financing of $25,120,000 for Preserve at the Meadows in Fort Collins, Colorado

DENVER (March 7, 2013) - NorthMarq’s Denver office arranged an FHA-insured 223f mortgage in the amount of $25,120,000 through its affiliate, AmeriSphere, for Preserve at the Meadows located at 350 Riva Ridge Dr. in Ft. Collins, Colorado. The 35-year, fully amortizing loan was closed on January 24, 2013 at a fixed interest rate of 2.75 percent before MIP. The Class “A” multifamily community consists of 220 units in 10, two and three-story residential buildings. Amenities include community room, a fitness center, weight room and business center, as well as a library theater and outdoor pool and spa. Each unit has a patio or balcony, washers/dryers, 9-foot ceilings, and fireplaces in most top floor units. Greg Benjamin, Senior Vice President; and Dan Lucchesi, Investment Analyst, arranged the financing for the Borrower. Brian Harris, AmeriSphere’s Production Manager, praised the property owner and HUD’s Denver office. “Preserve at the Meadows is an excellent example of the highly competitive terms available to quality multifamily properties through FHA mortgage insurance programs,” said Harris. “The close cooperation of the sponsor and HUD staff made this closing possible.”