NorthMarq Capital arranged $7.843 million mortgage for Gramercy Place in Los Angeles, California

Gramercy Place Apts
LOS ANGELES (February 19, 2013) – Robert Hervey, executive vice president and managing director of NorthMarq’s Los Angeles regional office, arranged first mortgage refinancing of $7.843 million for Gramercy Apartments, a 68-unit market-rate multifamily property located at 550 South Gramercy Place in Los Angeles, California. Financing was based on 10-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower through its seller-servicer relationship with Freddie Mac. “This transaction was a cash-out refinance of an existing Freddie Mac portfolio loan that will mature later this year,” said Hervey.

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:

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