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