Northmarq’s completes refinance of Palisade Park Apartments

Palisade Park Apartments is a gated community situated in Midtown Phoenix
Northmarq’s Dallas office completes refinance of Palisade Park Apartments in Phoenix, Arizona
Photo: Official
Listen To This Post

Bobby Weinberg, senior vice president/senior director, and Mason Brower, vice president of Northmarq’s Dallas debt/equity office, arranged the refinance for Palisade Park, a 29-building, 214-unit multifamily property located at 3001 North Black Canyon Highway in Phoenix, Arizona. The transaction was structured on a 10-year with 5-years interest only term followed by a 30-year amortization schedule. Northmarq arranged the permanent-floating loan for the borrower through its status as a Freddie Mac lender.

Sign up now to get our Daily Breaking News Alerts

  • This field is for validation purposes and should be left unchanged.
Opt out at anytime

“Turnstone and their management team have created significant value at Palisade Park through their renovation strategy. They were able to take advantage of the value created through a refinance to return capital to investors while providing flexibility moving forward. Northmarq was able to assist by providing the financing,” said Weinberg in a statement.

Palisade Park Apartments is a gated community situated in Midtown Phoenix just minutes from downtown, centered amid major education and employment corridors. The property recently underwent full interior renovations and boasts quality finishes. Within a five-mile radius of the apartments, population totals 481,640, alongside a median home value of $222,249.

Unique community amenities include: Two renovated swimming pools, community BBQ grills with picnic area, Wi-Fi café, playground, covered parking, two on-site laundry facilities, pet play station, soccer field, package service, on-site property management/maintenance, video surveillance, and online rent payment services.

Apartment amenities include: High-speed internet access, in-unit washer/dryer, walk-in closets, ceiling fans, private balcony/patio, spacious carpeted bedrooms, vinyl flooring, dining and family rooms, linen closet, and window coverings.

Lisa Hay

Lisa is a staff reporter for What Now Media Group. She covers new restaurant, retail, and real estate openings across all of our markets. A true foodie, this Air Force veteran has lived all over the world — from Aviano, Italy to Nairobi, Kenya — but her favorite spot is NOLA for its rich history, architecture, culture, and of course, its good eats.
0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments

Related Posts

Pin It on Pinterest