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.
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
