NorthMarq Capital’s San Francisco office arranges acquisition financing of $5.96 million for affordable housing in Turlock, California
Villas at Parkside
SAN FRANCISCO (December 4, 2015) –Nathan Prouty, senior director and Andrew Slaton, vice president of NorthMarq Capital’s San Francisco office arranged, on behalf of their client RVH Capital, LLC, acquisition financing of $5.96 million for Villas at Parkside, a 104-unit affordable housing property located at 381 West Hawkeye Avenue in Turlock, California. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its Fannie Mae DUS program. “The borrower was able to capitalize on the unique opportunity to acquire a 100 percent affordable housing multifamily property by securing a competitively priced loan through Fannie Mae,” said Slaton. “The loan represents 80 percent loan to purchase price, which was a key component for financing this deal.”
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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.
