NorthMarq Capital arranges two multifamily transactions totaling $78.485 million

DALLAS (July 7, 2014) – NorthMarq’s Dallas based regional office negotiated the refinance of two multifamily transactions totaling $78.485 million. Parc Belmar: This 512-unit multifamily property located at 7301 West Ohio Avenue in Lakewood, Colorado was financed at $73.64 million. The transaction was structured with a 7-year term with 4-years interest only followed by a 30-year amortization schedule. NorthMarq arranged the acquisition financing through its seller/servicer relationship with Freddie Mac. Through our close relationship with Freddie Mac, NorthMarq was able to secure fantastic terms for the borrower's entry into the Colorado market. The borrower has plans to spend additional capital to rehab and rebrand the asset as Ashford Belmar, which will enhance an already impressive property that includes a 27,000 sq.ft. clubhouse, complete with an indoor Olympic size swimming pool and dog spa in the strong submarket of Lakewood, Colorado. Ashford Meadows Apartments: This 104-unit multifamily property located at 910 Wilton Lane, Lilburn, Georgia was refinanced at $4.845 million. The transaction was structured with a 10-year term and 30-year amortization and was arranged by NorthMarq for the borrower through its Fannie Mae-DUS affiliate.