Northmarq secures $13M refinance for Los Angeles mid-rise apartment portfolio
Los Angeles Mid-Rise Apartment Portfolio
LOS ANGELES — Northmarq’s Los Angeles Debt + Equity team led by Zalmi Klyne successfully arranged $13 million in financing for a three-property portfolio totaling 107 units in Los Angeles. The properties are located along South Kenmore Avenue and include:
- 530 S. Kenmore Ave. | 40 units
- 531 S. Kenmore Ave. | 27 units
- 407 S. Kenmore Ave. | 40 units
Northmarq arranged financing on behalf of the borrower, a Los Angeles-based owner and operator, through a correspondent relationship with an international bank. The transaction was structured on a five-year term — full term, interest only.
“We were able to close this transaction during a turbulent time in the interest rate market, accomplishing the borrowers request to complete their business plan,” Klyne said.
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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.
