Multifamily - Debt

NorthMarq Capital secures $8,584,000 financing via Freddie Mac’s Green Advantage Program for Sedona Apartments in Moreno Valley, California

SAN DIEGO (October 31, 2017) – Eric Flyckt, managing director of NorthMarq Capital’s San Diego office, arranged $8.584 million in financing for Sedona Apartments, an 82-unit multifamily property located in Moreno Valley, California. The financing was used to pay off a bridge loan, which had been obtained from a bank when the property was acquired, and return a considerable amount of equity to the borrower. The loan term is 7-years with interest-only payments during the entire term. An interior and exterior renovation of the property was completed prior to NorthMarq’s funding of the loan. The property benefits from being in close proximity to freeways, retail centers, and employment centers. NorthMarq arranged financing for the borrower as seller/servicer for Freddie Mac under its Green Advantage program.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.