Arranges $20.5 million refinance of Pacific Terrace in San Francisco, California
Pacific Terrace
SAN FRANCISCO (May 7, 2014) – Dennis Williams, managing director and Brian Esquivel, assistant vice president of NorthMarq Capital’s San Francisco based regional office arranged the $20.5 million refinance of Pacific Terrace, a 41-unit market rate multifamily property with 2,500 square feet of ground floor retail in the Russian Hill neighborhood of San Francisco, California. The transaction was structured as a 7-year fixed rate loan with a 27-year amortization schedule and was arranged for the borrower by NorthMarq through its relationship with a life company. “We were fortunate to have the opportunity to provide both the initial construction loan and the take-out permanent financing for this outstanding asset located in one of San Francisco’s best neighborhoods,” said Williams. “The permanent fixed rate loan provided by the life company lender excelled in both proceeds and rate. The closing process was praised by all parties involved.”
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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.
