SAN DIEGO, CALIFORNIA (June 20, 2022) – Aaron Beck, managing director of Northmarq’s San Diego office, secured $14 million in financing for Mesa Verde, a 136-unit apartment community. The property is located at 6335 Annie Oakley Drive in Las Vegas, Nevada. The permanent fixed-rate loan was arranged for the borrower through Northmarq’s in-house Fannie Mae platform
“Using Fannie Mae’s Streamlined Rate Lock (SRL) option, the borrower was able to lock the interest rate within a day of executing the application and just before a subsequent increase in treasury rates,” explained Beck. “The loan provided full-term interest only payments and cash out that will be used to expand the borrower’s existing real estate portfolio.”
