Multifamily - Debt

NorthMarq Capital’s Los Angeles office finalizes $13 million in acquisition financing for Oasis at Bermuda Dunes

LOS ANGELES (June 10, 2015) – Robert R. Hervey, executive vice president/senior managing director of NorthMarq Capital’s Los Angeles based regional office arranged acquisition financing of $13 million for Oasis at Bermuda Dunes, a 140 unit multifamily property located at 79090 Avenue 42 in Bermuda Dunes, California. The transaction was structured with a 7-year term with 2-years interest only and 30-year amortization schedule. NorthMarq arranged financing for the borrower, who succeeded with the offer due to an expedited turnaround, through its seller-servicer relationship with Freddie Mac.

“Due to the timing of the closing everyone involved worked closely together to solve the complexities of the transaction and close on time with terms that were necessary for the borrower and acceptable to the lender,” explained Hervey.

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.