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.”

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of $13 billion, loan servicing portfolio of more than $55 billion and the multi-year tenure of our more than 500 people.