December 19, 2016
San Francisco-based Newmark Realty Capital Inc. arranged permanent financing totaling $38.8 million for two 400-unit, garden style apartment communities in Orange County, CA. The total refinancing includes two separate loans consisting of a $20-million loan on a property in Santa Ana, and an $18.8-million loan on a property in Orange.
The 15-year interest only loans were placed with one of Newmark’s correspondent life insurance company lenders. Newmark will also service the loan.
Newmark’s George Mitsanas and Doug Tisdale arranged the fixed-rate, non-recourse financing for the borrower, a Beverly Hills based developer.
Established in 1991, Newmark is an independent commercial mortgage banking firm with regional offices throughout the western U.S.
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