NorthMarq Capital arranges two affordable housing transactions via Fannie Mae
Two Affordable Housing Properties
SAN DIEGO (July 15, 2014) – Gardiner Champlin, senior vice president/managing director and Marty Meagher, senior vice president/managing director of NorthMarq Capital’s San Diego based regional office arranged Fannie Mae financing of $21,791,000 for Esperanza and Independence Plaza, family and seniors affordable housing complexes consisting of a total of 306 units and located in Alameda, California. The Independence Plaza transaction was structured as a 12-year fixed rate fully amortizing loan and the Esperanza transaction was structured as a 30-year fixed rate fully amortizing loan through Fannie Mae DUS Lender AmeriSphere Multifamily Finance. “The purpose of the financing is to make available additional capital to further the mission of the Alameda Housing Authority to provide quality, affordable safe housing for residents of the community,” said Champlin. “By taking advantage of today’s attractive low fixed interest rates, the borrower achieved a very cost effective leveraging of these assets to provide funding for ongoing improvement and expansion of its affordable housing portfolio.”
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.
