Northmarq’s Salt Lake City office completes $11,000,000 refinance of The Commons at Newpark in Park City, Utah

The Commons at Newpark
Commons at Newpark

SALT LAKE CITY, UTAH (April 21, 2022) – Larry Pinnock, senior vice president/senior director of Northmarq’s Salt Lake City debt/equity office, arranged the $11 million refinance for The Commons at Newpark. The class A, multifamily property located at 1242 Center Drive in Park City, Utah. The transaction was structured on a 10-year term with 3-years interest-only followed by a 30-year amortization schedule. Northmarq arranged the permanent-fixed loan for the borrower through a credit union.

Built in 2020, the 38-unit resort style apartment complex is situated amid Park City’s popular dining, recreation, entertainment, and shopping opportunities. There is a 543-acre wildlife preserve surrounding the community, conveying a natural backdrop of the Wasatch Range with picturesque views. Park City is well known to tourists for its recreational presence and homes nearly 8,000 locals year-round.

The Commons at Newpark, planted in the greater Salt Lake City MSA, is conveniently located just 30-miles east of downtown. The Salt Lake City International Airport is a 40-minute commute from the property. Brigham Young University, located in Provo, Utah, is a highly rated private college just 47.2-miles south of the Park City community and employs over 1,200 staff.

Apartment amenities include: Stainless steel appliances, gourmet kitchen, modern finishes, in-unit washer/dryer, large windows, and on-site car charging station.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit

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