NorthMarq completes $17,039,000 refinance of View 32 in Phoenix, Arizona

Debt & Equity

Multi-Tenant

LOS ANGELES, CALIFORNIA (November 13, 2019) – Michael Elmore and Ory Schwartz collaborated to arrange the $17,039,000 refinance of View 32, a multifamily property located at 10801 North 32nd Street in Phoenix, Arizona.

Financing Details:
- 10-year term with 3-years of interest only payments
- 30-year amortization schedule
- NorthMarq arranged financing for the borrower through its relationship with Freddie Mac
- Permanent-fixed loan

Property Details:
- The Class A property contains 135 units. It was constructed in 2018.
- Property amenities include: Controlled access, gas BBQ grills, high ceilings, parking, refrigerated package lockers, washer/dryer in unit, wood floors, gated outdoor space with sundeck, high speed internet access, air conditioning, heating, fitness center, spa/spool, maintenance on-site, property manager on0site, business center, clubhouse, lounge, storage space and conference room. Full list of amenities listed here.
- The property, located off of 32nd Street and Shea Boulevard, is positioned near many local restaurants, bars, gyms and other attractions.

Producer Quote:
“NorthMarq was able to put this deal under application as the property was nearing stabilization by getting Freddie Mac comfortable that the subject would be fully stabilized by the time the loan went in for full approval.”

- Ory Schwartz

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About Northmarq

Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.