Multifamily - Debt


NorthMarq’s San Diego Office arranges $43 million refinance of a multifamily property in San Diego, California

SAN DIEGO, CALIFORNIA (February 25, 2020) – Gardiner Champlin, Marty Meagher, and Eric Flyckt of NorthMarq’s San Diego office arranged the $43 million refinance of a multifamily property in San Diego. The transaction was structured with a 15-year term, 11 years of interest-only payments, and followed by a 30-year amortization schedule. NorthMarq arranged the financing through a correspondent insurance company and will service the loan.

This was a highly sought-after deal that was aggressively bid by several lenders. “The lender that won the business offered a very competitive package combining high leverage, low rate, a long fixed-rate term, and an impressive number of years of interest-only payments. The lender performed extremely well from application/rate lock through closing and delivered as agreed,” noted Champlin.

 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.