NorthMarq Capital’s San Diego office arranges $10.5 million refinance of Hunter’s Run Apartments in El Cajon, California
Hunter’s Run Apts
SAN DIEGO (February 23, 2015) – Marty Meagher, senior vice president and Gardiner Champlin, senior vice president of NorthMarq Capital’s San Diego based regional office secured the $10.5 million refinance of Hunter’s Run Apartments, a 218-unit multifamily property located at 532 Broadway in El Cajon, California. The low leverage 10 year loan transaction was structured with interest only payments for the full loan term. NorthMarq arranged financing for the borrower through its Seller-Servicer relationship with Freddie Mac. “Freddie Mac accommodated a low leverage refinance of an existing Freddie Mac loan on this very well-maintained garden apartment complex to significantly reduce the interest rate and monthly payments while providing some additional capital to assist with an on-going unit interior upgrade project,” said Champlin.
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.
