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.” 

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.