NorthMarq Capital arranged $11.5 million mortgage for Sunset View Apartments in Redlands, California
Sunset View Apts
LOS ANGELES (June 18, 2013) – Robert Hervey, senior vice president and senior managing director of NorthMarq’s Los Angeles regional office, along with Brent Hoffman, principal of West Coast Capital, arranged first mortgage refinancing of $11.5 million for Sunset View Apartments, a 124-unit, market-rate multifamily property located at 1250 N. University Street in Redlands, California. Financing was based on a 10-year term and a 30-year amortization schedule. NorthMarq placed this financing for the borrower through its seller-servicer relationship with Freddie Mac. “This was a cash-out refinancing of a maturing Freddie Mac loan,” Hervey said. “The borrower is very strong and experienced, which made the transaction run smoothly.”
About Northmarq
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.
