NorthMarq Capital Arranges $22.8 Million in Acquisition Financing for Ocotillo Springs
Ocotillo Springs in Chandler
James DuMars, SVP/managing director of NorthMarq Capital’s Phoenix office and Michael Elmore, EVP/managing director of NorthMarq Capital’s Los Angeles office secured $22.8 million in acquisition financing for Ocotillo Springs, a class-A 272-unit multifamily property located at 825 W. Queen Creek Road in Chandler, Arizona. The transaction was structured with a seven-year term with three years interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its seller/servicer relationship with Freddie Mac.