April 11, 2016

NorthMarq Capital’s Los Angeles office arranges acquisition financing of $2.28 million for Long Beach Apartment portfolio

Apartment Portfolio

Debt & Equity

Multi-Tenant

LOS ANGELES (April 11, 2016) – Mark Dodson, vice president of NorthMarq Capital’s Los Angeles office arranged acquisition/bridge financing of $2.28 million for a portfolio of two multifamily properties consisting of a combined 20-units located at 1744 East 2nd Street and 563 Cherry Avenue in Long Beach, California. The transaction was structured with a two year interest only term. NorthMarq arranged financing for the borrower through its relationship with a regional bank. “The borrower is a seasoned investor in value-add multifamily properties in Long Beach,” said Dodson. “NorthMarq Capital was able to provide them with a unique acquisition/bridge program that will enable them to execute short-term rehab plans.”

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.