NorthMarq's Denver regional office arranged acquisition financing of $38.6 million for Alta Phoenix Lofts located at 600 North 4th St. The property is a mid-rise community (six, 7 and 8-story buildings plus clubhouse) located downtown with 332 residential apartments and an additional 9,872 s/f of ground floor retail.
Greg Benjamin, senior vice president and Dan Lucchesi, investment analyst arranged the financing for the borrower, a division of Weidner Investment Services, Inc., a Seattle-based, privately-held owner of multiple multifamily properties. Ben Katon is vice president of finance and acquisitions and Kevin Colard as senior acquisitions manager.
Community amenities consist of pool, spa clubhouse with kitchen, cyber cafe, game room, business and 24-hour fitness center, yoga studio, media lounge, as well as controlled access and parking. Units feature 10' ceilings, washer/dryer, island, library/home office, pantry, maple cabinets and patio/balcony.
NorthMarq, the largest privately held commercial real estate financial intermediary in the U.S, provides mortgage banking and commercial loan servicing in 33 offices across the U.S. With an average of $8 billion in annual production volume and servicing a loan portfolio of nearly $40 billion, the company offers expertise to borrowers of all size. The company has a long track record of multi-family financing as a Freddie Mac Program Plusâ„¢ Seller-Servicer, and through its affiliation with Fannie Mae DUS lender AmeriSphere Multifamily Finance. In addition, NorthMarq has long relationships with over 50 life companies, many CMBS platforms and hundreds of local, regional and national banks. Tags: