Multifamily - Debt

NorthMarq Capital’s Los Angeles office arranges acquisition financing of $1.2 million for multifamily property in East Hollywood, California

LOS ANGELES (May 9, 2016) – Mark Dodson, vice president of NorthMarq Capital’s Los Angeles-based regional office , arranged acquisition financing of $1.2 million for a 12-unit multifamily property located at 4531 Normal Avenue in East Hollywood, California. The transaction was structured with a 30-year term with an initial fixed period of seven years and featured a 45-day close due to a 1031 exchange. NorthMarq arranged financing for the borrower through its relationship with a national bank.

“The borrower had a tight closing window due to a 1031 exchange and a previous lender being unable to perform,” said Dodson. “NorthMarq was able to secure multiple quotes and guide the borrower through the closing process with a new lender to meet the deadline.”

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.