DENVER (February 4, 2013) – NorthMarq’s Denver regional office arranged acquisition financing of $10,500,000 for the Chateau Apartments and Villa del Prado (“Villa”) located at 565 and 635 Mohawk Drive, respectively, in Boulder, Colorado. Villa, constructed in 1974, consists of 50 units in three, two and three-story buildings. The property has controlled access entry, a heated parking garage, indoor pool, a spa & sauna, as well as clubhouse and fitness center. Units feature fireplaces and large patios or balconies. Constructed in 1968, Chateau has 32 units (all 2 bedroom/2 bath) in four, two-story buildings. The community has covered parking and a heated pool. Units contain large patios or balconies and fireplaces. Combined, there are a total of seven different floor plans with average unit sq. ft. of 1,191.
John M. Stewart, Senior Vice President; and Ilan Reissner, Investment Analyst, arranged the financing for the borrowers.
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