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.”

Northmarq is an industry-leading capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with an open, flexible structure, enabling our team of seasoned professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of over $30 billion, and loan servicing of nearly $70 billion.