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

Three Multifamily Properties

Debt & Equity

Multi-Tenant

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.”

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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.