PHOENIX—James DuMars, senior vice president and managing director of NorthMarq Capital's Phoenix-based regional office, arranged acquisition financing of $26 million for Broadstone Twin Fields, a 314-unit, multifamily property located at 2505 E. Williams Field Rd. in Gilbert. The transaction featured a low loan to value of 55% with a purchase price of $47 million. NorthMarq arranged financing for the borrower through its affiliate AmeriSphere Multifamily Finance, a Fannie Mae DUS lender.
DuMars tells GlobeSt.com, “We really like this asset. Gilbert is a phenomenal city. It was recently rated the second safest city in America.”
DuMars is referring to a report published by Law Street where Gilbert was indeed rated the number two safest city in municipalities with populations totaling 200,000 or more.
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