Northmarq secures $10.5 million bridge financing for newly delivered 40-unit mid-rise apartment community in Los Angeles
LOS ANGELES (October 12, 2026) — Juda Penini, Senior Vice President of Northmarq’s Los Angeles Debt + Equity team, successfully arranged $10.5 million in bridge financing for a newly constructed 40-unit, 100% income-restricted multifamily community in South Los Angeles.
The transaction was structured as a bridge execution to refinance the maturing construction loan and provide capital during the property’s lease-up period. The financing was placed with a private debt fund lender through Northmarq’s institutional capital relationships.
“The sponsor needed a flexible execution that could move on their timeline following construction completion,” said Penini. “We structured a bridge solution that took out the construction debt and positioned the property for a stabilized permanent takeout. In today’s market, newly completed projects facing maturing construction debt before stabilization are a recurring challenge, and private debt executions like this one are increasingly how sophisticated sponsors are solving for it.”
This execution reflects a growing pattern in the Los Angeles market, where sponsors of newly delivered multifamily communities are facing construction loan maturities ahead of full lease-up and conventional permanent sizing. Private debt bridge solutions have emerged as an effective path to refinance construction debt, provide capital through stabilization, and preserve optionality for a permanent takeout once the asset is seasoned. Northmarq’s Los Angeles Debt + Equity team sources and structures these executions across market-rate, workforce, and affordable multifamily transactions throughout Southern California.
Meet our team
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $80 billion and has completed $91.3 billion in transactions over the past four years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
