NorthMarq Capital’s Los Angeles office finalizes $5.275 million refinance of Emerald Terrace Apartments in Santa Ana, California
Emerald Terrace Apts
LOS ANGELES (January 5, 2016) – David Blum, senior director of NorthMarq Capital’s Los Angeles regional office, arranged the $5.275 million refinance of Emerald Terrace Apartments, a 50-unit multifamily property located at 919 and 1001 South Lyon Street in Santa Ana, California. The transaction was structured with a 7-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its Fannie Mae DUS program. “NorthMarq refinanced this internal Fannie Mae loan with a significantly reduced interest rate, some cash-out and waived the pre-payment penalty,” said Blum.
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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.
