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 a full-service 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 a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.