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.