SAN DIEGO (July 9, 2018) – Gardiner Champlin, senior vice president and Marty Meagher, senior vice president of NorthMarq Capital’s San Diego regional office, arranged the $80 million refinance of a multifamily project in San Diego. The transaction was structured with an 11-year term with 3 years of interest-only payments followed by a 30-year amortization schedule. NorthMarq arranged financing through its long-standing relationship with a life insurance company.
“The lender won the business with a very competitive quote and followed through with a seamless underwriting and closing process to meet a closing target date specified by the borrower,” noted Champlin. “The borrower commented that this was perhaps the most stress-free refinance transaction he has ever experienced,” added Meagher.