TODAY’S DEALS: NorthMarq Capital Arranges Over $13.725M Mortgage for 272-Unit Apartment Community, and Other Transactions
- May 07, 2009
By Anuradha Kher, Online News EditorChandler, Ariz.–NorthMarq Capital’s San Diego regional office has arranged first mortgage financing of $13.725 million for Waterside at Ocotillo (pictured), a 272-unit multifamily property, located in Chandler, Ariz.Financing was based on a 10-year term with a 30-year amortization schedule and was arranged for the borrower by NorthMarq through its affiliate AmeriSphere Multifamily Finance, a Fannie Mae DUS lender. Hendricks & Partners Arranges Sale of 11-Unit Property for Over $1MEl Cajon, Calif.–Hendricks & Partners recently arranged the sale of 1083 South Mollison Ave. in El Cajon, Calif. The 11-unit apartment community was sold for $1,205,000.1083 South Mollison was built in 1978 and is comprised of two functional floor plans consisting of one studio unit of approximately 350 square feet, and 10 two-bedroom/one-bathroom units of approximately 864 square feet.Paul B. Bundy, Jr., Sigrid H. Bundy of Escondido, Calif. sold the property to Adnan Barbat, Khalida Barbat of San Diego.