Greg Duvall, senior vice president/managing director of NorthMarq Capital Kansas City-based regional office arranged acquisition financing of $25,338,000 for Rancho Solana Apartments, a 168-unit multifamily property located at 2444 Alvarado Street in Oxnard, California. The transaction was structured with a 10-year term with 5-years of interest only on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with Fannie Mae.
“Due to their long and successful history with this borrower, Fannie offered aggressive pricing and 5-years of interest only despite the age of the property,” said Duvall.
About NorthMarq Capital
NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through its 36 offices nationwide. The company has built long-term relationships with life companies, CMBS platforms and local, regional and national banks, and has maintained a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. The company closes more than $12.5 billion in commercial real estate loans annually and services a loan portfolio of more than $47 billion. For more information please visit www.northmarq.com.