NorthMarq Capital’s Los Angeles office arranges $2.15 million acquisition financing for Barrett Lake MHP in Dulzara, California

Barrett Lake MHP

Debt & Equity

Multi-Tenant

LOS ANGELES (September 14, 2016) – Daniel McCarthy, senior vice president/senior director of NorthMarq Capital’s Los Angeles-based regional office, arranged acquisition for Barrett Lake MHP, an 88-unit multifamily property located at 1250 Barrett Lake Road in Dulzara, California. The transaction was structured with a 5-year term followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a credit union. “The property is in lease-up after sustaining losses from fires in Southern California,” said McCarthy. “This loan with a local credit union enabled the borrower to acquire this asset in transition that has an open prepay throughout the term. The borrower can get the property leased-up and refinance at any time to recapture his equity investment and value created.”

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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.