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.
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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.
