NorthMarq Capital’s Los Angeles office secures $41 million construction loan for Riverpoint/Warner Center in Canoga Park, California

Riverpoint/Warner Center
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LOS ANGELES (December 3, 2018) – David Blum, senior vice president/senior director of NorthMarq Capital’s Los Angeles regional office, arranged the $41 million construction loan for Riverpoint/Warner Center, a 154-unit multifamily property located at 6801-6819 Canoga Avenue in Canoga Park, California. NorthMarq arranged the construction financing for the borrower through its relationship with a private lender. The project is located a block away from the Westfield Mall and 1 mile from Pierce College. 

“We were successful in structuring a high leverage construction loan at 75 percent LTC with flexibility of adding PACE financing after closing,” explained Blum. “This will be an A quality asset with amenities catering to the Warner Center demographics and flourishing growth.” 

 

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 and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.

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