Multifamily - Debt

NorthMarq Capital’s San Francisco office finalizes $52 million refinancing of four property apartment portfolio in Los Angeles, California

SAN FRANCISCO (October 21, 2016) – Nathan Prouty, managing director and Andrew Slaton, vice president and Jeffrey Weidell, president of NorthMarq Capital’s San Francisco office, arranged the $52 million refinance of four multifamily properties located in Los Angeles, California. NorthMarq arranged financing for the borrower, E&S Ring Management Company, through its correspondent relationship with Voya Investment Management LLC. The transaction was structured with a 10-year interest-only term.

“This was a successful transaction with a repeat borrower through Voya, a longtime life company correspondent relationship,” said Prouty. “An early refinancing, NorthMarq negotiated a modification of the existing loans and was able to reset the rate, add loan proceeds and recast the portfolio on new 10-year loans with full-term interest only.”

• Sunset Barrington Gardens: 183 units—233 South Barrington Avenue, Los Angeles, California
• Casa Granada: 168 units—550 South Barrington Avenue, Los Angeles, California
• Villa Vicente: 276units—5351 West San Vicente Boulevard, Los Angeles, California
• Rancho Los Feliz: 317 units—3205 Los Feliz Boulevard, Los Angeles, California.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.