NorthMarq Capital’s Nathan Prouty arranges value-add acquisition financing of $7.43 million for apartment complex in Santa Rosa, California
SAN FRANCISCO (May 9, 2018) – Nathan Prouty, managing director at NorthMarq Capital’s San Francisco regional office, arranged the $7.43 million value-add acquisition financing for a 38-unit multifamily property in Santa Rosa, California. The transaction was structured with a 3-year interest only bridge loan with future funding for capital improvements. NorthMarq arranged financing for the borrower through a debt fund relationship. “During a stressed closing timeframe, NorthMarq was able to bring a trusted bridge lender to the table which was able to close the transaction in one week, successfully meeting the acquisition deadline,” said Prouty. “The tremendous effort on all sides of the table resulted in an attractive value-add acquisition loan.”
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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.