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.