Multifamily

NorthMarq Capital’s Las Vegas office arranges $8.168 million refinance of Lafayette Square Apartments in Los Angeles, California

LAS VEGAS (January 20, 2017) – Scott Monroe, senior vice president of NorthMarq Capital’s Las Vegas regional office, negotiated the $8.168 million refinance of Lafayette Square Apartments, a 44-unit multifamily property located at 1625 Crenshaw Boulevard in Los Angeles, California. The transaction was structured with a 10-year term with 5-years of interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its Fannie Mae platform.

The property benefits from its close proximity to Hwy 10 and Hwy 110, the Natural History Museum of Los Angeles County, the Los Angeles County Museum of Art, the La Brea Tar Pits and Museum, the STAPLES Center and the University of Southern California. Also in close proximity are numerous shopping/dining opportunities.

Community amenities include: access to public transportation, assigned parking, cable ready, disability access, easy access to freeways, easy access to shopping, elevator, garage, gated access, leasing office, patios in all units, close-by public parks, swimming pools and spa/hot tub.

Apartment features include: balcony/patio, breakfast bar, building capable of up to 300 MBPS WiFi, cable ready, central air/heating, covered parking, dishwasher, hardwood floors, laundry room in unit, laundry storage area, microwave, mirrored closet doors, Neolux blinds, pantry, refrigerator, stainless steel appliances, tandem parking, tile floor in bathroom and laundry room, two patios (one per bedroom), views of the Hollywood Sign, walk-in-closets and a washer/dryer in each unit.

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.