Northmarq’s San Diego office secures $12.5 million refinance for The Reserve at Gilbert Towne Centre in Gilbert, Arizona

The Reserve at Gilbert Towne Centre
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SAN DIEGO, CALIFORNIA (July 11, 2022) – Aaron Beck, managing director of Northmarq’s San Diego office, arranged $12.5 million in financing for The Reserve at Gilbert Towne Centre, a 147-unit Class A apartment community.  The property is in Gilbert, Arizona -- one of the most popular and fastest growing areas of the Phoenix metro. The permanent fixed-rate loan was arranged for the borrower through Northmarq’s Fannie Mae DUS platform.

“The borrower utilized Fannie Mae’s Streamlined Rate Lock (SRL) option to lock the interest rate before treasuries experienced a significant increase.  The interest rate was locked within two days of executing the application,” said Beck. “The refinance provided the borrower with a long-term fixed interest rate and the benefit of full-term interest only payments.”

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.Northmarq.com.

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