July 28, 2023

Northmarq secures $19.4M financing of Southern California multifamily portfolio

Southern California Portfolio

Debt & Equity

Multi-Tenant

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.

Available Multifamily properties

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 an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.