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.”