Northmarq Helps Clipper Capital with Bullhead City Refi

A Northmarq Debt + Equity team led by Joe Giordani arranged the $17.9 million refinance of Stone Ridge Apartments. Located in Bullhead City, Arizona, the multifamily property was built in 1990 and features 204 units. 

Clipper Capital Group was the sponsor. The transaction was structured on a 10-year term with five years interest-only. The 10-year fixed interest rate is in the mid 5%s. 

Northmarq helped the sponsor obtain a high-leverage acquisition bridge loan on the property two years ago through a non-recourse debt fund.

Stone Ridge Apartments is situated in Bullhead City, minutes from the Colorado River, shopping, dining, and Laughlin, Nevada. Residents enjoy many community amenities including two sparkling pools and spas, fitness center, playground, basketball and volleyball courts and two on-site laundry care centers. The pet-friendly community offers studio, one- and two-bedroom floor plans with options for in-unit washer/dryer, fireplace and private balcony. 

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