NorthMarq Capital arranges $1.886 million mortgage for Fourth Street Lofts in Los Angeles, California
Fourth Street Lofts
LOS ANGELES (September 30, 2013) – Ory Schwartz of NorthMarq’s Los Angeles regional office, arranged refinancing of $1.886 million for Fourth Street Lofts, a 10-unit, 10,016 sq. ft., market-rate multifamily property located at 1340 West 4th Street in Los Angeles, California. Financing was based on a 30-year term fixed for 7 years with max LTV and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a regional bank. “Through NorthMarq’s relationship with the lender, the borrower was able to lock in low coupon in a rising rate environment. Lender honored the rate through a significant upswing in rates prior to locking,” Schwartz said.
About Northmarq
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.
