NorthMarq Capital arranged $21.7 million mortgage for Tustin Cottages in Tustin, California
Tustin Cottages
SAN FRANCISCO (February 7, 2013) – Dennis Williams, SVP/managing director of NorthMarq’s San Francisco-based regional office, and Robert Hervey, EVP/senior managing director of NorthMarq’s Los Angeles-based regional office, cooperated to arrange acquisition financing of $21.7 million for Tustin Cottages, a 93-unit market-rate multifamily property located at 1361 El Camino Real in Tustin, California. Financing was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower, The Matteson Companies, through its relationship with a correspondent life company lender. “We negotiated a split funding loan to finance the acquisition of the subject property,” said Williams. The lender provided a market leading rate and was able to accommodate a quick closing with a smooth execution.”
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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.
