Arranges $20.5 million refinance of Pacific Terrace in San Francisco, California

Pacific Terrace
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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.”

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, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.Northmarq.com.

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