GLENDALE, CALIF. — Northmarq has brokered the sale and financing of TENTEN Glendale, a mid-rise apartment community at 111 N. Louise St. in Glendale. Amidi Group sold the asset to Regent Properties for $33.5 million.
Built in 2019, TENTEN Glendale features 66 studio, one- and two-bedroom apartments with floor-to-ceiling windows, stainless steel appliances, in-home washer/dryers and quartz countertops. Community amenities include a rooftop pool and spa, a fitness center, business center and onsite office/retail space.
Northmarq also arranged a $22.7 million bridge loan for the buyer, Regent Properties, through a correspondent relationship with a life insurance company. The transaction was structured on an initial two-year term with three one-year extension options.
Vince Norris, Jim Fisher, Mike Smith and Tommy Yates of Northmarq’s Multifamily Investment Sales team represented the seller and secured the buyer in the deal. Joe Giordani, Brendan Golding and Scott Botsford of Northmarq’s Debt + Equity team arranged the financing for the buyer.