NorthMarq Capital’s Los Angeles office arranges acquisition financing of $17.3 million for Loft Apartments in San Diego, California
LOS ANGELES (December 16, 2016) – Michael Elmore, executive vice president/managing director and David Blum, senior vice president/senior director of NorthMarq Capital’s Los Angeles-based regional office arranged $17.3 million on the acquisition of Loft2015 Apartments, an 85-unit multifamily property located at 2015 Hancock Street in San Diego, 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. “This was a high quality, newer asset located in North Little Italy,” said Blum. “This was closed through our own Fannie Mae lending division. The buyer is an affiliate of James Investment Partners, a privately-held investment platform with multifamily holdings throughout California. The firm’s principles have engaged NorthMarq’s Orange County team on numerous transactions in southern California.”
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
