Northmarq arranges $46.5M sale, acquisition financing for Yardly McDowell build-to-rent community
PHOENIX (Jan. 8, 2025) — Northmarq’s National Build-to-Rent team led by Trevor Koskovich, Jesse Hudson, Ryan Boyle and Logan Baca brokered the $46.5 million sale of a 167-unit build-to-rent (BTR) community built in 2023. Northmarq represented the seller, Taylor Morrison, a well-known national home builder.
“Northmarq was honored to negotiate the sale of the second Yardly transaction for Taylor Morrison in 2024,” said Koskovich. “We established a competitive bidding environment and received numerous offers on Yardly McDowell, which is a true testament to Taylor Morrison’s quality of product and attention to operations. Ultimately, we chose the buyer based on their certainty of execution and ability to close the transaction.”
Bryan Mummaw and Bryan Liu of the firm’s Phoenix office secured $29.5 million in acquisition financing for the buyer, Tower 16 Capital Partners.
"Northmarq was pleased to be able to represent the buyer, a long-standing, repeat borrower relationship, on this transaction," said Mummaw. "We met with over 200 lenders, including agency, life companies, debt funds and banks to structure the optimal financing solution for our client's business plan. Collaborating with the Northmarq Investment Sales team made this a seamless execution."
The luxury, gated community represents a highly sought-after opportunity in the ever-growing BTR space and in a thriving infill location. Residents enjoy direct access to the Interstate 10 and Loop 101 freeway systems with connection to premier entertainment and retail hubs. In addition, the property is only a 15-minute commute to the heart of Downtown Phoenix.
Yardly McDowell features top of the market interiors with advanced smart home technology and a resort-inspired amenity package. Residents may choose from one- or two-bedroom floorplans averaging 860 sq. ft. In-home amenities include 10-foot ceilings, granite countertops, recessed lighting and more. The property boasts a resort-style swimming pool and sundeck, detached garages, fully equipped fitness center and an outdoor entertainment area.
Meet our team
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.
