NorthMarq Capital’s Denver based regional office secured the $5.3 million acquisition of Paradise Vista Apartments, a multifamily property containing 24, two-story buildings with 352 total units located at 7102 North 43rd Ave in Phoenix.
The transaction was structured with an eight-year term and 30-year amortization schedule. Northmarq arranged financing for the borrower through its relationship with a regional bank.
Property amenities include covered parking, as well as six onsite laundry facilities. The new owners plan to make renovations to the property.