February 27, 2013

NorthMarq Capital arranged $5.27 million mortgage for Summerfield Condominiums in Aurora, Colorado

Summerfield Condominiums

Debt & Equity

Multi-Tenant

PHOENIX – NorthMarq Capital's Phoenix-based regional office, arranged acquisition financing of $5.27 million for Summerfield Condominiums located at 3500-3610 S. Zeno Way in Aurora, Colorado. The asset is a 65,775 sq. ft., 61-unit class "A" fractured condominium community that was acquired through a short sale scenario. Financing was based on an 18-month interest-only term thereafter a 25-year amortization schedule. NorthMarq arranged this financing for the borrower, SPRE Summerfield Condos, LLC, through its relationship with a regional bank. “The financing provided a structure that will allow our client to stabilize cash flows and maximize asset value,” said Donahue.

Available Multifamily properties

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 and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.