NorthMarq Capital’s Los Angeles office finalizes $13 million in acquisition financing for Oasis at Bermuda Dunes
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.
About Northmarq
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
