Multifamily - Debt

NorthMarq Capital

NorthMarq Capital arranges acquisition financing of $1.3 million for Beacon Manor in Ferndale, Washington via LIHTC’s

LOS ANGELES (June 5, 2018) – Joe Giordani, vice president of NorthMarq Capital’s Los Angeles regional office, arranged acquisition financing of $1.3 million for Beacon Manor, a 51-unit multifamily property located at 2306 Douglas Road in Ferndale, Washington. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its seller/servicer relationship with Freddie Mac.

“Our borrower was purchasing this Low Income Housing Tax Credit (LIHTC) deal with various third party agreements complicating the deal,” said Giordani. “Our Freddie Mac Targeted Affordable Group did a great job in helping navigate the waters and we successfully executed the 1031 exchange for the client.”

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.