SAN DIEGO, CALIFORNIA (July 24, 2019) – Marty Meagher, senior vice president and Gardiner Champlin, senior vice president of NorthMarq’s San Diego office secured refinancing of $7.6 million for Seawind Seniors Apartments. The senior housing property consists of 101-units and is located at 4450 South Saviers Road in Oxnard, California. The permanent-fixed loan was structured with a 10-year interest-only term. NorthMarq arranged financing for the borrower through its in-house Fannie Mae team.
“We had a great team effort of many participants to pay off existing bond financing credit-enhanced by Fannie Mae with new conventional first mortgage provided by Fannie Mae,” said Meagher. “This transaction preserved high quality affordable senior housing for the Oxnard community.”