NorthMarq secures sale and acquisition financing of The Bluffs at Tierra Contenta in Santa Fe, New Mexico
NEWPORT BEACH, CALIFORNIA (June 8, 2021) – Joe Giordani, senior vice president/managing director and Brendan Golding, vice president of NorthMarq’s Newport Beach office arranged acquisition financing for The Bluffs at Tierra Contenta. The 160-unit multifamily property (2000 vintage) is located at 6600 Jaguar Drive in Santa Fe, New Mexico. NorthMarq arranged the permanent-fixed loan for the borrower through its in-house Fannie Mae team.
“The borrower secured 10-year fixed rate financing through Fannie Mae. The 75% loan to value financing was maximum leverage for this market and we were also able to provide 5-years of interest only payments for the borrower,” said Giordani. “We were able to close in 40 days to accommodate the buyer’s exchange timeline.”
Giordani and Golding collaborated with NorthMarq’s Phoenix investment sales team of Trevor Koskovich, president, Bill Hahn, executive vice president, Jesse Hudson, senior vice president and Cynthia Meister in NorthMarq’s Albuquerque investment sales office.
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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.
