Dealmaker: NorthMarq Capital Secures $189M for Multifamily, Industrial Properties

NorthMarq Capital, Minneapolis, arranged $189.3 million for multifamily and industrial assets in Arizona, Colorado and Nevada.

In Phoenix, NorthMarq Senior Vice President Luke Donahue and Managing Director Scott Monroe secured $29.8 million to refinance 652-unit multifamily property The Cove. A life insurance company provided the 15-year loan with a 30-year amortization schedule.

Donahue also negotiated $15.5 million in acquisition financing for Turntable Studios, a 179-unit multifamily property located at 1975 Mile High Stadium Circle in Denver. A life insurance company supplied the 20-year fully amortizing loan.

Elsewhere in Colorado, NorthMarq Capital arranged $124 million financing for five multifamily communities in Aurora and Colorado Springs.

Senior Director Gordon Mickelson and Senior Investment Analyst Brian Fisher arranged 15-year financing through NorthMarq Capital Finance for OLP Management Co., Denver.

Properties in the 1,900-unit portfolio include Westover Gardens, Ridge Hill, Quincy Ridge, Sanctuary at Heather Ridge in Aurora and Beverly Place in Colorado Springs.

In Las Vegas, NorthMarq Senior Director David Blum and Managing Director Scott Monroe secured $20 million to refinance a six industrial property portfolio totaling 399,400 square feet. The 10-year life company loan priced below four percent.

“This was a six-month forward rate lock for a high quality 100 percent leased industrial portfolio,” Blum said.