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.”