Multifamily

NorthMarq Capital’s San Francisco office arranges $2.2 million acquisition financing for 1045 Cabrillo in San Francisco, California

SAN FRANCISCO (January 11, 2018) – Dennis Sidbury, senior vice president/senior director of NorthMarq Capital’s San Francisco regional office, negotiated acquisition financing of $2,200,000 for 1045 Cabrillo St., a 6-unit multifamily property located in San Francisco, California. The property is newly remodeled and located in the heart of the Inner Richmond district. The transaction was structured as a 3-year interest only loan. NorthMarq arranged financing for the borrower, Half Dome Capital, through its relationship with the lender, First Foundation Bank.

“This was a tremendous value-add opportunity for the borrower on an asset situated in an incredibly strong submarket,” noted Sidbury. “The financing facilitated the acquisition and allowed for the addition of multiple units that will further enhance the property’s cash flow.”

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through its 36 offices across the U.S. The company has built long-term relationships with life companies, CMBS platforms and local, regional and national banks, with a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. The company closes approximately $13 billion in commercial real estate loans annually and services a loan portfolio of more than $50 billion. For more information please visit www.northmarq.com.