NorthMarq’s Los Angeles office finalizes $56,025,000 refinance of Highland Pinetree Apartments in Fullerton, California

Highland Pinetree Apts

Debt & Equity

Multi-Tenant

LOS ANGELES, CALIFORNIA (June 20, 2019) – Michael T. Elmore, executive vice president/managing director of NorthMarq’s Los Angeles-based regional office secured refinancing of $56,025,000 for Highland Pinetree Apartments. The 320-unit multifamily property is located at 1501 South Highland Avenue in Fullerton, California. The property is operated by Advanced Real Estate Services.

The transaction was structured with a 10-year interest-only term at an interest rate of 3.74 percent. NorthMarq arranged the permanent-fixed loan for the borrower through its relationship with Freddie Mac, which executed a full rate lock one day after loan application execution. This refinance provided $28 million in net cash out that will be used for acquisitions. NorthMarq also provided defeasance services on the old loan.

Apartment amenities include: custom-made cabinetry made in the United States, ceiling fans, Frigidaire Energy Efficient appliances, spacious floor plans, patio or balcony, Sound-Tec Urban Flooring to reduce noise levels, LED energy efficient lighting, low-flow toilets and a starboard (leak-preventer).

Community amenities include: beautifully landscaped courtyards, on-site management and 24 hour maintenance, pool, BBQ and picnic areas, on-site laundry, sand volleyball court, smoke-free environment, billiards room, cardio machines/fitness studio, Dog Park and garden pathways.

View Available Multifamily Listings

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.