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.
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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.
