Multifamily - Debt

NorthMarq Capital

NorthMarq Capital’s San Diego office completes two financings totaling $9.8 million for apartment communities in Las Vegas, Nevada

SAN DIEGO, CALIFORNIA (January 22, 2019) – Eric Flyckt, managing director and Wyatt Campbell, vice president, of NorthMarq’s San Diego office, arranged financings totaling $9.8 million for two separate apartment communities located in Las Vegas, Nevada. 

A $5.2 million loan was provided for a 244-unit age-restricted apartment community, and the other community, comprising 189 age-restricted units, received financing of $4.6 million. Both loans were structured with a 15-year fixed-rate term and 15-year amortization schedule. NorthMarq arranged the financings for the borrower through its correspondent relationship with an insurance company. 

“The insurance company lender provided a seven-month forward commitment for both loans that allowed the borrower to lock-in a sub-4.5 percent rate fixed for 15 years,” said Campbell. 

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 $13 billion, loan servicing portfolio of more than $57 billion and the multi-year tenure of our more than 500 people.