Multifamily - Debt

NorthMarq Capital

NorthMarq Capital’s San Diego office completes $3.75 million refinance of multifamily property in Las Vegas, Nevada

SAN DIEGO (October 9, 2018) – Wyatt Campbell, vice president of NorthMarq Capital’s San Diego regional office, arranged the $3.75 million refinance of a 68-unit apartment community located in Las Vegas, Nevada. The transaction was structured with a 12-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. 

“Our correspondent life company lender matched the borrower’s specific need for flexible prepayment while providing a 12-year fixed-rate loan,” explained Campbell. “Additionally, the Sponsor was very pleased with the low fixed rate, which was locked at the time the Application was executed, and the smooth approval and closing process.”

 

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.