NorthMarq Capital arranges $26 million in acquisition financing for Broadstone Twin Fields in Gilbert, Arizona
Broadstone Twin Fields
PHOENIX – James DuMars, senior vice president/managing director of NorthMarq Capital’s Phoenix based regional office arranged acquisition financing of $26 million for Broadstone Twin Fields, a 314 unit multifamily property located at 2505 E. Williams Field Road in Gilbert, Arizona. The transaction featured a low loan to value of 55% with a purchase price of $47,100,000. NorthMarq arranged financing for the borrower through its affiliate AmeriSphere Multifamily Finance, a Fannie Mae DUS lender. “This was a highly sought after class “A” asset,” said DuMars. “The repeat sponsor had a vast array of financing options but in the end elected the certainty of execution and competitive terms of a low leverage Fannie Mae loan. It’s hard to compete with Fannie Mae on low leverage loans.”
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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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
