NorthMarq Capital arranged $32 million construction loan for Field House Apartments in San Mateo, California
Field House Apts
SAN FRANCISCO (July 1, 2013) – Dennis M. Williams, managing director of NorthMarq’s San Francisco-based regional office, arranged a construction loan of $32 million for Field House Apartments located at 2889 East Kyne Street in San Mateo, California. This asset is a multifamily apartment project containing 108 market-rate units. It is the first apartment development built in Phase II of the master-planned community known as Bay Meadows. Financing was based on a 36-month interest-only term and was arranged for the borrower by NorthMarq through its relationship with a regional bank. “The lender provided attractive construction loan terms including a flexible loan amount with attractive pricing,” Williams said.
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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.
