Multifamily - Debt

NorthMarq Capital arranges two affordable housing transactions via Fannie Mae

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.”

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $16 billion, loan servicing portfolio of more than $65 billion and the multi-year tenure of our nearly 600 people.