January 16, 2018
NorthMarq Capital arranged refinancing of $40.5 million for two multifamily properties in California and Nevada. These separate loans for each property share common principals, and are structured with a seven-year fixed rate loan term.
NorthMarq’s San Diego-based team of Marty Meagher and Gardiner Champlin arranged financing for the borrower through its Fannie Mae platform, and took advantage of green rewards and year-end promotional pricing.
The properties include:
Forest Glen: Located in Escondido, CA, the 184-unit multifamily property received refinancing of $24.5 million. The asset offers a modern country-side level of comfort, while being close to the city.
Shadowbrooke Apartments: Located in Las Vegas, NV, the 256-unit multifamily property received refinancing of $16 million. The property provides a host of amenities, with a prime location and high value.
For comments, questions or concerns, please contact Dennis Kaiser