NorthMarq’s San Diego office completes $7,000,000 refinance of two apartment buildings in El Cajon, California
Two Multifamily Properties
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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About Northmarq
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
