Northmarq secures $11M refinance for 82-unit multifamily community
Riverside Multifamily Community
Eric Flyckt, managing director of Northmarq’s San Diego office, secured a $11 million refinance of an 82-unit multifamily property in Riverside, California. The five-year, fixed-rate, non-recourse loan was structured with full-term interest-only payments.
Northmarq funded the loan as a direct Freddie Mac lender and will service the loan. The five-year Treasury yield was locked at application using Freddie Mac’s Index Lock execution.
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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.
