LOS ANGELES — Northmarq has arranged $95.8 million in refinancing for a six-property, 1,461-unit multifamily portfolio owned and operated by E&S Ring Management Corp. across Southern California. Nathan Prouty, Andrew Slaton and John Holt of Northmarq arranged the financing through Voya Investment Management.
The transaction refinances existing debt across the portfolio, including four loans originally placed with Voya in 2007. Structured as six separate, non-cross-collateralized loans, the financing combines fixed- and floating-rate structures, interest-only payments and flexible prepayment provisions. The new financing addresses upcoming maturities while preserving flexibility for E&S Ring across the portfolio.
The portfolio includes the 168-unit Case Granada and 183-unit Sunset Barrington Gardens in Brentwood, the 117-unit Meadows South in Culver City, the 400-unit Mountain Vista in Victorville, the 317-unit Rancho Los Feliz and the 276-unit Villa Vicente in Mid-Wilshire.