Northmarq announces $14M sale, $9M acquisition financing for 108-unit Radford Place Apartments in eastern Iowa

DUBUQUE, Iowa — Northmarq’s Midwest Multifamily Investment Sales team of Anthony Martinez, Parker Stewart and Dominic Martinez arranged the sale of Radford Place Apartments, a 108‑unit garden‑style community, located at 1600 Radford Rd. in Dubuque, Iowa for $14.3 million.

Northmarq represented the seller, Partner Apartments. Northmarq’s Newport Beach Debt + Equity group, led by Joe Giordani, Brendan Golding and Scott Botsford secured a $9.417 million acquisition loan through Northmarq’s in-house Fannie Mae DUS platform on behalf of the buyer, Clipper Capital Group.

"Radford Place received substantial regional and national interest, with 91% of offers coming from out-of-state investors, including multiple groups looking to acquire their first asset in the Iowa market,” said Anthony Martinez. “The property’s quality, location and operational upside made it an extremely attractive opportunity for investors ranging from high-net-worth individuals to large investment funds. Demand for 2000s-built assets remains strong, especially in suburban submarkets, where market fundamentals show consistent long-term growth.”

“The borrower was in a position to lock the interest rate within two weeks through Fannie Mae’s Streamline Rate Lock execution. This program provides the borrower early rate lock certainty while preserving the flexibility to lock at the most favorable point in the market,” said Giordani.

Built between 2010 and 2012, Radford Place features 108 units. The property features two‑bedroom, two‑bath units totaling 1,000 square feet each, with in‑unit washer/dryer, walk‑in closets, private patios in select units, and 198 total parking spaces including 83 garages.

Radford Place is a highly desirable community that provides direct access to Dubuque’s major employers, retailers, entertainment and other economic drivers. Notable employers within a 10-minute drive include John Deere, MercyOne, UnityPoint, Hodge Company and Medical Associates Clinic.