NorthMarq Capital’s Los Angeles office arranges acquisition financing of $2.28 million for Long Beach Apartment portfolio
Apartment Portfolio
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.”
About Northmarq
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
