Multifamily
Debt & Equity

NorthMarq Capital arranges two multifamily transactions in Reno, Nevada worth $27 million

LOS ANGELES (July 2, 2014) – Ory Schwartz, senior vice president/managing director secured two multifamily transactions totaling $27,955,000 for Creekside Apartments and Club Ambassador Apartments, located in Reno, Nevada. NorthMarq arranged financing for the borrower in both transactions through its seller/servicer relationship with Freddie Mac. “The sponsor took advantage of Freddie Mac’s Treasury Index Lock to eliminate their aversion to rate volatility while maximizing loan proceeds,” said Schwartz. Club Ambassador Apartments: Located at 6402 Mae Anne Avenue, this 245 unit multifamily property was refinanced at $15.030 million. The transaction was structured with a 10-year term and 30-year amortization schedule. Creekside Apartments: Located at 4600 Mirea Loma Drive, this 224 unit multifamily property was refinanced at $12.925 million. The transaction was structured with a 10-year term and 30-year amortization schedule.

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.

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Two Multifamily Properties
Debt
$27,000,000