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.