NorthMarq Capital secures acquisition financing of $15.85 million for Cornerstone Apartments in Canoga Park, California

Cornerstone Apts
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SAN DIEGO (March 17, 2016) – Eric Flyckt, managing director of NorthMarq Capital’s San Diego office, arranged $15.85 million in acquisition financing for the Cornerstone Apartments, a multifamily property located in Canoga Park, California. The property benefits from a heavily-traveled corner location, a strong submarket and is in close proximity to employment centers, retail centers, educational facilities and regional freeways. NorthMarq arranged financing for the borrower as designated underwriter for Fannie Mae. The borrower is an entity sponsored by Davlyn California Multifamily Fund I. The Fund is sponsored by the principals of Davlyn Investments. Founded in 1993, Davlyn Investments is a prominent San Diego-based real estate operating company that specializes in the acquisition, repositioning, management and sale of multifamily, office and industrial properties throughout California.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.

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