NorthMarq Capital arranges $22.45 million acquisition of RidgePointe Apartments located in Colorado Springs, Colorado

RidgePointe Apts
3bc54154-cd86-42f8-98db-12d924007502
DENVER (December 5, 2013) – Steve Koeneke and Dave Link, senior directors of NorthMarq’s Denver regional office arranged acquisition financing of $22.45 million the RidgePointe Apartments, a 240 unit, thirteen building multifamily community located at 13631 Shepard Heights, Colorado Springs, Colorado. Financing for the transaction was structured with a 10-year term with some interest only during the term and 30-year amortization rate. NorthMarq arranged financing for the borrower through its seller-servicer relationship with Freddie Mac. Community amenities include business and fitness centers, a theatre, swimming pool and Jacuzzi, tanning bed and playground. Each unit contains 9’ vaulted ceilings, private balconies or window seats. “NorthMarq arranged financing for the borrower, a highly-regarded Colorado Springs-based commercial real estate firm, with whom NorthMarq has had a longstanding relationship,” said Koeneke.

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.

Image
NM Web Icon News Black

Stay on top of industry research