Northmarq’s Phoenix office completes acquisition financing of $27.6 million for three multifamily properties in Phoenix, Arizona
PHOENIX, ARIZONA (May 10, 2022) – Griffin Martin, senior vice president/managing director of Northmarq’s Phoenix debt/equity team, arranged acquisition financing for two transactions consisting of three properties for a combined $27.6 million. Northmarq secured the financing for the client through its relationship with a bridge lender.
Alara Rojo: Northmarq negotiated acquisition financing of $12.35 million for this 80-unit multifamily property (built in 1984) located at 15417 North 29th Street in Phoenix, Arizona. The floating rate loan was structured with a 3-year interest only term.
Alara Azul & Alara Verde: Northmarq finalized acquisition financing of $15.25 million for these two multifamily properties (built in 1985) consisting of 85 units. The properties are located at 16645 & 16801 North 31st Street in Phoenix, Arizona. The floating rate loan was structured with a 3-year interest only term.
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.
