Multifamily - Debt

NorthMarq Capital

NorthMarq Capital finalizes $114.125 million in financing via Freddie Mac for Canyon Country, California multifamily properties

LOS ANGELES (October 24, 2018)– Ory Schwartz, senior vice president/managing director of NorthMarq Capital’s Los Angeles regional office, secured financing totaling $114.125 million for three multifamily properties (consisting of a combined 799 units) located in Canyon Country, California.  The financings were on behalf of Beverly Hills-based developer G.H. Palmer Associates.  NorthMarq arranged financing for the borrower through its Freddie Mac platform utilizing the Green Advantage program.

Canyon Country Villas, a 328-unit multifamily property located at 26741 North Isabella Parkway in Canyon Country, California received refinancing of $46.09 million. The transaction was structured with a 10-year, interest-only term.

Sand Canyon Villas, a 215-unit multifamily property located at 28923 North Prairie Lane in Canyon Country, California received refinancing of $34.98 million. The transaction was structured with a 10-year, interest-only term.

Diamond Park, a 256-unit multifamily property located at 27940 Solamint Road in Canyon Country, California received refinancing of $33.055 million. The transaction was structured with a 10-year, interest-only term. 

“G.H. Palmer timed these cash out refinances perfectly.  We were able to rate lock at application at sub 4% interest rates,” said Schwartz. “The new full term interest only loans paid off existing bond financing, Freddie Mac supplemental loans and provided substantial cash out.” 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of $13 billion, loan servicing portfolio of more than $55 billion and the multi-year tenure of our more than 500 people.