DENVER (March 28, 2014) – Gregory T. Benjamin, senior vice president and Jeff DeHarty, investment analyst of NorthMarq Capital’s Denver based regional office arranged acquisition financing of $4,315,000 for Whispering Pines Apartments, located at 3030 East Fountain Blvd. in Colorado Springs, Colorado. Financing for the transaction was structured with a 3-year term and 25-year amortization schedule and was arranged on behalf of the borrower by NorthMarq through its relationship with a regional bank.
Constructed in 1969, the community consists of 207 units (1-3 bedroom floor plans) in 10, three-story buildings. Amenities include an outdoor swimming pool, spa/hot tub, playground and clubhouse.