Multifamily - Debt

NorthMarq Capital arranges $1.2 million refinancing for Alamar Apartments in Merced, California

LOS ANGELES (October 15, 2013) – Daniel B. McCarthy, senior vice president/senior director of NorthMarq’s Los Angeles regional office, secured refinancing of $1.2 million for Alamar Apartments, a 104-unit, conventional market multi-family property located 200-238 South Canal Street, Merced, CA. Financing was based on a 12-year term and a 12-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a correspondent life company. The property has contained a Low-Income Housing Tax Credit and a ground lease. “The borrower wanted a fully amortizing loan,” said McCarthy, “and with the size of the loan not many lenders would step up but we had a correspondent lender that satisfied the clients request and closed as quoted.”

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 more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.