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.”
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 an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
