NorthMarq’s San Diego office secures $12.25 million loan through Fannie Mae for new mixed-use development
Mixed-Use Development
SAN DIEGO (July 1, 2020) – Aaron Beck, vice president of NorthMarq’s San Diego regional office, arranged a $12.25 million refinance of a newly developed mixed-use property located in Oakland, California. The financing was arranged for the borrower through NorthMarq’s relationship with Fannie Mae. The recently stabilized property is located in a market with very high demand for apartments due to its walkability, and close proximity to mass transit and freeways.
“This loan replaced the existing construction loan and provided a very low fixed interest rate with multiple years of interest only payments,” said Beck.
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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.
