NEWMARK ARRANGES $21 MILLION IN FINANCING FOR TWO MULTIFAMILY COMMUNITIES

CHULA VISTA, CALIF., AND WILMINGTON, DEL. — Newmark Realty Capital has secured $21.4 million in financing for two multifamily communities in California and Delaware. The California asset is Rolling Hills Gardens Apartments, a 116-unit senior apartment complex located in the master-planned community of Rolling Hills Ranch in Chula Vista. The Delaware property is the 447-unit Village at Fox Point in Wilmington. Both properties were previously financed by Peter Welsh of Newmark Realty Capital with a correspondent life company. The new financing was placed with FNMA through Newmark’s correspondent Walker & Dunlop LLC.