February 21, 2013

NorthMarq Capital arranged $8.1 million mortgage for Village at Westmeadow Apartments in Colorado Springs, Colorado

Village at Westmeadow Apts

Debt & Equity

Multi-Tenant

LOS ANGELES (February 21, 2013) – Mark Grace, vice president of NorthMarq’s Los Angeles regional office, arranged first mortgage refinancing of $8.1 million for the Village at Westmeadow, a 174,200 sq. ft. 208-unit, market-rate multifamily property located at 1265 Capistrano Point in Colorado Springs, Colorado. The property is located near Fort Carson and occupied by approximately 90% of military families. Financing was based on a 6-year interest-only term. NorthMarq arranged this financing for the borrower through its relationship with a non-correspondent life company lender. “This transaction has a 6-year interest-only term with a tenant-in-common borrower who requires post-closing modification for investor services,” said Grace. “The borrower needed flexible prepayment for the disposition period. The lender was able to structure an open prepayment window for the second half of the loan term.”

Available Multifamily properties

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.