October 17, 2013

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

Alamar Apts

Debt & Equity

Multi-Tenant

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.”

Available Multifamily properties

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.