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.
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