NorthMarq arranges $15 million refinance of Promenade Estates in Phoenix, Arizona
Promenade Estates
PHOENIX, ARIZONA (July 8, 2020) – James DuMars, senior vice president/managing director and Griffin Martin, senior vice president/managing director of NorthMarq’s Phoenix office collaborated to secure refinancing of $15 million for Promenade Estates. The 182-unit multifamily property is located at 2330 West Glenrosa Avenue in Phoenix, Arizona. The transaction was structured with a 10-year term with 5-years of interest only followed by a 30-year amortization schedule. NorthMarq arranged the permanent-fixed loan for the borrower through its relationship with Freddie Mac.
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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.
