NorthMarq secures $6,370,300 refinance of Del Rey Apartments in San Diego
Del Rey Apts
SAN DIEGO, CALIFORNIA (October 20, 2021) – Wyatt Campbell, vice president, of NorthMarq’s San Diego office arranged the $6,370,300 refinance of Del Rey Apartments. The mixed-use multifamily complex is located near Pacific Beach in San Diego, California. NorthMarq funded the HUD 223(f) loan for the borrower through its in-house FHA/HUD team.
“NorthMarq’s FHA platform provided significantly more proceeds than other lenders," said Campbell. "The fixed-rate loan will fully amortize over a 35-year term. It provided the borrower ample cash-out at an interest rate in the mid-2.0 percent range,” said Campbell.
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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.
