Multifamily - Debt

NorthMarq Capital

NorthMarq Capital’s San Diego office arranges a $5.8 million financing for a 98-unit apartment complex

SAN DIEGO (April 2, 2018) – Aaron Beck, vice president of NorthMarq Capital’s San Diego regional office, has arranged a $5.8 million loan for an apartment property located in Dallas, Texas. The financing was arranged for the borrower through Freddie Mac’s Small Balance Loan (SBL) program. The sponsor recently completed a substantial renovation of the property that included full interior upgrades, new exterior paint, and a refurbished pool. “The non-recourse loan paid off a high interest rate bridge loan used to complete the renovations and returned a significant amount of equity to the borrower. This new financing is structured with a low fixed interest rate and very flexible prepay. The prepay flexibility allows the borrower the option to transfer the loan to a new owner or prepay the loan at a nominal cost,” said Beck.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of $13 billion, loan servicing portfolio of more than $55 billion and the multi-year tenure of our more than 500 people.