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.
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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.