NorthMarq Capital arranges $17 million financing for The Preserve at Greenway Park in Casper, Wyoming
Preserve at Greenway Park
DENVER (Feb.11, 2014) – Gregory T. Benjamin, senior vice president of NorthMarq Capital’s Denver regional office arranged $17 million financing for The Preserve at Greenway Park Phase II, located at 2079 Preserve Circle, Casper, Wyoming. Financing for the multifamily property was based on a 10-year term and 30-year amortization schedule. Constructed in 2012-2013, Phase II consists of 160 units in 14, two and three-story buildings. Floor plans range from 650-1,300 sq.ft. Community amenities, shared with Phase I, include a clubhouse, business and fitness centers, clubhouse recreation area, swimming pool and playground. Phase II features a small pool, as well as 105 detached garages. The Phase II units have microwave ovens and washer/dryers with most units having a built-in computer desk and large oval tub. “Preserve at Greenway, being a Class A new construction project and sub-70% LTV, was a highly sought after mortgage investment by multiple CMBS lenders,” said Benjamin.
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.
