San Francisco (November 21, 2013) – Jeffrey Weidell, Nathan Prouty and Andrew Slaton of NorthMarq’s San Francisco-based regional office, secured refinancing of $89.1 million for three apartment properties located throughout California. Financings for the The Boulders, Chesapeake Point and Los Robles Apartments were structured with 10-year terms and 30-year amortization schedules. NorthMarq arranged the financing through its relationship with The Guardian Life Insurance Company of America (“Guardian”). “In addition to prepayment flexibility, Guardian offered the borrower the ability to build new units at two of the properties and resize the loans after their completion,” said Weidell. - The Boulders is a 164-unit apartment community located in Walnut Creek, Calif. The property sits on 6.36 acres and consists of 16 two-story garden-style buildings with an additional one-story recreation center and a mix of studios, and one and two bedroom apartment homes. - Chesapeake Point is a 100-unit waterfront garden-style apartment project located in San Mateo. Situated on 5.0 acres, the property consists of 11 garden-style buildings with an additional one-story common area building and a mix of one, two and three bedroom units. With close proximity to Interstate 101, the property provides convenient access to many of Silicon Valley’s top employers. - Los Robles, a 248-unit garden-style apartment community located in Thousand Oaks. The property sits on 11.65 acres and consists of 31 two-story garden-style buildings with a mix of one and two bedroom homes.
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.
