Northmarq secures $19.4M financing of Southern California multifamily portfolio
Southern California Portfolio
LOS ANGELES (July 28, 2023) — Zalmi Klyne, managing director of Northmarq’s Los Angeles Debt and Equity office secured $19.4M financing for an eight-property apartment portfolio. The 175-unit portfolio was constructed in the 1960s and is located across greater Los Angeles. Northmarq arranged the non-recourse financing for the borrower. The loan was structured with a five-year interest-only term and featured a flexible pre-payment penalty with low closing costs.
“While many banks were on the sidelines, we were able to get a local bank to step up and close these loans in only 45 days,” Klyne said.
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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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
