December 13, 2017
NorthMarq Capital arranged a $31,500,000 permanent loan for the acquisition of Tralee Village Apartments, a 130-unit luxury multifamily community at 6599 Dublin Blvd. in Dublin, CA. The borrower was Bay Area-based JB Matteson, Inc.
The non-recourse, 55% LTV loan features interest-only payments for the full seven-year term and a competitive interest rate of 3.6%. The borrower will benefit from the loan’s flexible prepayment schedule of four years of yield maintenance followed by two percent in year five, one percent in year six, and par in year seven.
As the life company correspondent, NorthMarq Capital will service the loan and stay permanently involved to support both the borrower and the life company. NorthMarq Capital’s Dennis Williams and Tom Wight arranged the financing.
For comments, questions or concerns, please contact Dennis Kaiser