NorthMarq Capital arranges $10.227 million refinance of University of Southern California student housing
USC Student Housing portfolio
LOS ANGELES (Feb. 17, 2014) – Ory Schwartz, senior vice president/managing director of NorthMarq Capital’s Los Angeles based regional office arranged refinancing worth $10.227 million for a five property portfolio, consisting of student housing apartments located near the University of Southern California. NorthMarq arranged financing for the borrower through its relationship with a local bank. “The borrowers were repeat clients with the bank and were able to secure 15-year loans on each property in which the first five years were fixed rate before switching to a floating rate,” said Schwartz. “The borrower was able to refinancing existing loan amounts plus take out additional capital in excess of $2 million for future projects.”
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.
