Northmarq’s Los Angeles office secures $64.65M in acquisition financing for seven-property affordable housing portfolio

San Fernando Valley Portfolio

LOS ANGELES (Feb. 27, 2025) — Managing Director and Senior Vice President Zalmi Klyne of Northmarq’s Los Angeles office arranged financing totaling $64,650,000 million for seven affordable housing properties, totaling 596 units, in the San Fernando Valley. The properties were all naturally occurring affordable housing assets which benefited from a partial property tax exemption.

Northmarq arranged 76% LTC acquisition financing on behalf of the borrower, a private owner based in Moorpark, California, through numerous correspondent relationships with banks. The fixed rate transaction was priced in the high 5% range and structured with interest-only payments.

The portfolio includes:

  • 15125 Saticoy St., Van Nuys, California | 51 units | built in 1970
  • 9014 Orion Ave., North Hills, California | 77 units | built in 1964
  • 8503 Tobias Ave., Panorama City, California | 41 units | built in 1958
  • 21205 Saticoy St., Van Nuys, California | 57 units | built in 1963
  • 6706 Hayvenhurst Ave., Van Nuys, California | 33 units
  • 14732 South Maple Ave., Gardena, California | built in 1978
  • 9010 Tobias Ave., Panorama City, California | 201 units | built in 1972  

“Through our vast understanding of  NOAH tax abatements, we were able to make the lenders comfortable with UW-abated property taxes, allowing us to push the NOI and get over 75% LTV on a fixed-rate execution,” said Klyne.

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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.
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