NorthMarq Capital arranged $10.5 million mortgage for Hillside Terrace Apartments in Los Angeles (Hollywood), California
Hillside Terrace Apts
LOS ANGELES (April 4, 2013) – Robert Hervey, executive vice president and managing director of NorthMarq’s Los Angeles regional office, arranged first mortgage refinancing of $10.5 million for Hillside Terrace Apartments, a 79-unit market-rate multifamily property located at 7245 Hillside Avenue in Los Angeles (Hollywood), 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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
