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