PHOENIX, ARIZONA (July 24, 2020) – James DuMars, senior vice president/managing director of NorthMarq’s Phoenix office negotiated the $35,970,000 internal refinance of The Trails at San Tan. The 314-unit multifamily property is located at 2505 East Williams Field Road in Gilbert, Arizona. The transaction was structured with a 10-year interest-only term. NorthMarq arranged the permanent-fixed loan for the borrower through its in-house Fannie Mae team.
“We closed this loan in 3 weeks from signed loan application,” said DuMars.