December 2, 2014

NorthMarq Capital arranges $140 million refinance of Aliso Creek Apartments in Aliso Viejo, California

Aliso Creek Apts

Debt & Equity

Multi-Tenant

LOS ANGELES (December 2, 2014) – Michael T. Elmore, executive vice president/managing director of NorthMarq Capital’s Los Angeles based regional office arranged the $140 million refinance of Aliso Creek Apartments, a 535-unit multifamily property located at 24152 Hollyoak in Aliso Viejo, California. This high leverage loan paid off tax exempt bonds and two subordinate deeds while providing working capital to renovate the formally rent restricted units. The transaction was structured with a 3-year interest only term plus two 12-month extension options. “GE and Prudential teamed up on this complex transaction and closed it in 45 days to accommodate the clients’ business plan and strict payoff dates,” said Elmore.

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.