NorthMarq Capital arranges $17 million financing for The Preserve at Greenway Park in Casper, Wyoming
Preserve at Greenway Park
DENVER (Feb.11, 2014) – Gregory T. Benjamin, senior vice president of NorthMarq Capital’s Denver regional office arranged $17 million financing for The Preserve at Greenway Park Phase II, located at 2079 Preserve Circle, Casper, Wyoming. Financing for the multifamily property was based on a 10-year term and 30-year amortization schedule. Constructed in 2012-2013, Phase II consists of 160 units in 14, two and three-story buildings. Floor plans range from 650-1,300 sq.ft. Community amenities, shared with Phase I, include a clubhouse, business and fitness centers, clubhouse recreation area, swimming pool and playground. Phase II features a small pool, as well as 105 detached garages. The Phase II units have microwave ovens and washer/dryers with most units having a built-in computer desk and large oval tub. “Preserve at Greenway, being a Class A new construction project and sub-70% LTV, was a highly sought after mortgage investment by multiple CMBS lenders,” said Benjamin.
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.
