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.”
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