Northmarq completes acquisition financing of $10,657,500 for two multifamily properties in Las Vegas, Nevada
LOS ANGELES, CALIFORNIA (November 2, 2021) – Zalmi Klyne, senior vice president of Northmarq’s Los Angeles office, secured acquisition financing of $10,657,500 for two multifamily properties located in Las Vegas. Northmarq arranged financing for the borrower Golden Bee Properties, through its relationship with a regional bank. “Zalmi was instrumental in getting these complex affordable housing deals financed, we couldn’t have done it without him,” said David Berneman, CEO of Golden Bee Properties.
Sunset Park Apartments was financed at $4,857,500. The 48-unit LITHC/Bond/Affordable property is located 1555 Balzar Avenue. The transaction was structured with 5-year term with 2-years of interest only payments followed by a 30-year amortization schedule.
Sunset Palms Apartments was financed at $5,800,000. The 56-unit LITHC/Bond/Affordable multifamily property (built in 1999) is located at 900 Doolittle Avenue. The permanent-floating loan was structured with a 5-year term with 2-years of interest only followed by a 30-year amortization schedule
“These properties mark Golden Bee’s first acquisitions for their CalNeva Workforce Housing Fund, which focuses on workforce housing in the Nevada and Southern California markets,” said Klyne.
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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.
