Northmarq arranges $14.8M, 85% LTC construction loan for 24-unit condominium community in LA metro
ARCADIA, Calif. — Northmarq’s Los Angeles Debt + Equity team led by Karl Weidell arranged a $14.8 million construction loan at 85% loan to cost for a 24-unit condominium development located in Arcadia, California.
Northmarq arranged the financing on behalf of the borrower, a vertically integrated real estate development firm via a debt fund execution.
“With decades of local entitlement and development experience, the resulting low LTV of the project allowed for aggressive leverage and attractive pricing in 8% range,” Weidell said.
The project consists of 24 condominium units situated on approximately 0.63 acres in Arcadia, one of the San Gabriel Valley’s most established residential communities. Planned for completion in 2027, the property spans four buildings totaling over 43,000 square feet.
Positioned within the Western San Gabriel Valley submarket, the community benefits from proximity to major transportation corridors connecting residents throughout the LA metro. The location also offers convenient access to a wide range of retail, dining and entertainment destinations throughout Arcadia.
The community’s location, condominium ownership structure and accessibility position the asset well within the local market.
Meet our team
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 $80 billion and has completed $91.3 billion in transactions over the past four years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
