NorthMarq Capital arranges $23.236 million acquisition financing of Summit at Thorton in Thorton, Colorado
DALLAS (October 20, 2014) – NorthMarq’s Dallas based regional office secured acquisition financing of $23.236 million for Summit at Thornton, a 322-unit multifamily property located at 101 E. 88th Avenue in Thornton, Colorado. The transaction was structured with a 7-year term with 2-years interest only and 30-year amortization schedule. NorthMarq arranged financing for the borrower, RADCO Companies, through its Seller-Servicer relationship with Freddie Mac. NorthMarq was able to provide RADCO with a favorable floating rate Freddie Mac loan in order for RADCO to continue to do what they do best; acquire properties with great upside potential in order to reposition the asset within its submarket.
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.
