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 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.
