NorthMarq Capital arranged $11.5 million mortgage for Sunset View Apartments in Redlands, California

Sunset View Apts
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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.”

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, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.Northmarq.com.

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