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.”
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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
