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.
– 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
– 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.
“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