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  • Full Occupancy, Larger Floor Plans Help Drive Chambers Reserve’s $25.5M in Acquisition Financing

    Northmarq arranged a $25.5 million acquisition loan for Chambers Reserve, a 125-unit rental townhome community in Lacey, WA. According to Robert Spiro, who co-led Northmarq’s Debt + Equity team in the transaction, 100% occupancy and a differentiated housing product helped attract interest from multiple financing sources, including agency lenders and life insurance companies. “It is a newer-vintage, fully leased, purpose-built rental community with strong in-place cash flow,” Spiro told ApartmentBuildings.com. “For lenders, newer construction also means minimal near-term capital needs.”...
Full Occupancy, Larger Floor Plans Help Drive Chambers Reserve’s $25.5M in Acquisition Financing

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