EVERETT, WA—NorthMarq Capital's Denver based regional office secured acquisition financing of $43.5 million for Millington at Merrill Creek, an 18-building, 344-unit multifamily property located at 1401 Merrill Creek Parkway. The transaction was structured with a 7-year interest only term. NorthMarq arranged financing for the borrower, Security Properties, through its seller/servicer relationship with Freddie Mac.
Property amenities include a business center, 24-hour fitness center, clubhouse, pool, spa/hot-tub, basketball court, playground, attached/detached garages and carports. Units have 9' ceilings, full-size washers/dryers, fireplaces in select units, dishwasher, built in microwave, track-lighting and soaking tubs.
Security Properties has acquired or develop over 66,500 residential units at a cost of over $3.35 billion. The company maintains a focused multifamily strategy supported by integrated teams of professional acquisition, development, construction, investment and property management specialists.
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