Multifamily - Debt

NorthMarq secures $6,370,300 refinance of Del Rey Apartments in San Diego

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. 

Northmarq is an industry-leading capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with an open, flexible structure, enabling our team of seasoned professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of over $30 billion, and loan servicing of nearly $70 billion.