NorthMarq arranges $15 million refinance of Promenade Estates in Phoenix, Arizona
PHOENIX, ARIZONA (July 8, 2020) – James DuMars, senior vice president/managing director and Griffin Martin, senior vice president/managing director of NorthMarq’s Phoenix office collaborated to secure refinancing of $15 million for Promenade Estates. The 182-unit multifamily property is located at 2330 West Glenrosa Avenue in Phoenix, Arizona. The transaction was structured with a 10-year term with 5-years of interest only followed by a 30-year amortization schedule. NorthMarq arranged the permanent-fixed loan for the borrower through its relationship with Freddie Mac.
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