August 13, 2015

NorthMarq Capital’s San Diego office arranges $25 million refinance of Wintercrest Village Apartments in Lakeside, California

Wintercrest Village Apts

Debt & Equity

Multi-Tenant

SAN DIEGO (August 13, 2015) – Marty Meagher, senior vice president and Gardiner Champlin, senior vice president of NorthMarq Capital’s San Diego based regional office negotiated the $25 million refinance of Wintercrest Village Apartments, a 354-unit multifamily property located 12002 Wintercrest Drive in Lakeside, California. The transaction was structured with a fully amortizing 25-year term. NorthMarq arranged the low leverage, fixed-rate long-term transaction for the borrower through its correspondent relationship with a life insurance company. “NorthMarq was able to achieve material cash-out for the borrower while maintaining approximately the same monthly payment amount due to today’s lower market interest rates,” said Champlin. “The family-owned borrower and long-term holder eliminated interest rate risk with the fixed rate and eliminated refinance risk via the fully amortizing structure of the refinance.”

Available Multifamily properties

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.