NorthMarq Capital arranged $1.785 million mortgage for Columbus Street Apartments in Bakersfield, California
Columbus Street Apts
LOS ANGELES (January 28, 2013) – David Blum, senior vice president and senior director of NorthMarq’s Los Angeles regional office, arranged acquisition financing of $1.785 million for Columbus Street Apartments, a 40-unit market-rate multifamily property located in Bakersfield, California. Financing was based on a 5-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a local credit union. “This transaction closed with a 70% loan to value and a 4.0% interest rate,” said Blum.
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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.
