Northmarq’s San Diego office completes $12,911,000 refinance for May’s Landing Apartments in Salem, Oregon

May's Landing Apts
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SAN DIEGO, CALIFORNIA (May 6, 2022) – Conor Freeman, vice president of Northmarq’s San Diego regional office arranged the $12,911,000 refinance of May’s Landing Apartments in Salem, Oregon. The 96-unit garden-style multifamily property was recently constructed by Salem-based Rushing Group. The transaction was structured with a 10-year term and 10 years of interest-only payments. Northmarq secured financing for the borrower through its in-house Fannie Mae platform. 

“May’s Landing qualified for a Green Globes certificate which enabled Fannie Mae to offer a meaningful reduction in spread. The permanent refinance allowed the Rushing Group to take out their interim bridge debt utilized during the property’s lease-up and return equity for their next multifamily development,” said Freeman.

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 an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.Northmarq.com.

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