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November 13, 2014

Northshore Townhomes gets financing

Northshore Townhomes sold for $22 million.

Dennis Williams and Brian Esquivel of NorthMarq Capital's San Francisco office arranged $12.5 million in acquisition financing for Northshore Townhomes, an 86-unit apartment complex in Kenmore.

JB Matteson Inc. of San Mateo, California, bought the complex in September from Grosvenor Americas USA Inc. for $22.1 million.

It was originally developed as condos by Mastro Properties in 2009 and later converted to rental units.

Grosvenor bought the complex for $15.8 million in 2010 from a bank that seized the property from Mastro.




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