Multifamily - Debt


NorthMarq arranges the $9.12 million refinance of a multifamily portfolio in Long Beach, California

LOS ANGELES, CALIFORNIA (January 15, 2021) – Zalmi Klyne, vice president of NorthMarq’s Los Angeles office secured the $9.12 million refinance of a 3-property multifamily portfolio. The portfolio, consisting of 50 total units and built in 1959, is located in Long Beach, California. The permanent-floating loan was structured with a 10-year term with 5-yeas of interest only followed by a 30-year amortization schedule and the rate at closing was 2.75 percent. NorthMarq arranged the permanent-floating loan through its status as a Freddie Mac Optigo lender. 

“The properties were being recapitalized and between the senior agency loan and the preferred piece we obtained 90 percent of the capital stack,” said Klyne. 

 

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.