Multifamily - Debt

NorthMarq’s San Diego office completes $7,000,000 refinance of two apartment buildings in El Cajon, California

SAN DIEGO, CALIFORNIA (September 15, 2020) – Conor Freeman, vice president in NorthMarq’s San Diego office, arranged a $7 million cash-out refinance secured by two garden-style multifamily properties located in El Cajon, CA. NorthMarq structured the two loans with 10-years of interest-only payments at a fixed 2.76 percent interest rate, through its in-house Fannie Mae DUS platform.

“Our Fannie Mae team was able to move quickly, closing in 36 days start to finish, while securing a historically low interest rate for the borrower despite the Covid-19 pandemic,” said Freeman.

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 $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.