Multifamily - Debt

NorthMarq Capital

NorthMarq Capital’s San Diego office arranges $17 million loan utilizing Fannie Mae’s Green Rewards Program

SAN DIEGO (April 5, 2018) – Aaron Beck, vice president of NorthMarq Capital’s San Diego regional office, secured the $17 million refinance of a 280-unit apartment property located in Las Vegas, Nevada. NorthMarq arranged long-term non-recourse financing for the borrower through Fannie Mae’s Green Rewards program. As a result, the fixed interest rate for the loan was locked in at more than 35 basis points below a conventional Fannie Mae execution. “This refinance provided substantial cash out for the borrower with a sub-4 percent fixed interest rate.” explained Beck. “The sponsor committed to making improvements at the property that reduce water consumption according to Fannie Mae’s Green Rewards program. In turn and at a nominal cost, the sponsor is realizing an increase in cash flow due to the reduced rate.”

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.