Multifamily - Debt

NorthMarq Capital’s San Diego office arranges $10.5 million refinance of Hunter’s Run Apartments in El Cajon, California

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.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $16 billion, loan servicing portfolio of more than $65 billion and the multi-year tenure of our nearly 600 people.