NorthMarq Capital’s Los Angeles office negotiates $130,684,000 refinance of Southern California multifamily portfolio

Multifamily Portfolio

Debt & Equity

Multi-Tenant

LOS ANGELES (January 30, 2017) – Michael T. Elmore, executive vice president/managing director of NorthMarq Capital’s Los Angeles-based regional office, arranged the $130,684,000 refinance of a portfolio of three multifamily properties located in Southern California. The properties contain a combined 654 units. The transaction was structured with a 10-year term with 1-year of interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower, Advanced Real Estate Services, through its seller/servicer relationship with Freddie Mac. Sherwood: Located at 14500 McNab Avenue in Bellflower, California, this 297-unit multifamily property received refinancing of $60,652,000. Twin Pines: Located at 2880 West Ball Road in Anaheim, California, this 115-unit multifamily property received refinancing of $19,981,000. Park Plaza: Located at 805 West Stevens Avenue in Santa Ana, California, this 243-unit multifamily property received refinancing of $50,051,000. “Freddie Mac provided excellent execution and economic terms,” said Elmore. “Advanced Real Estate Services received significant cash-out proceeds for continuing asset improvements and future acquisitions.”

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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.