NorthMarq Arranges $132M Refinancing for Six Multifamily Properties in California, Washington
SAN FRANCISCO — NorthMarq’s San Francisco office has arranged the $132 million in refinancing for six multifamily properties in California and Washington comprising 965 units.
Dennis Williams and Tom Wright of NorthMarq arranged the financing for the borrower, JB Matteson, through its long-time correspondent relationship with Allianz. The six permanent loans featured fixed interest rates with interest-only payments for the full 10-year terms.
The financing includes:
- A $19.2 million loan for Avanti Apartments, a 216-unit property located at 4450 El Centro Road in Sacramento.
- A $31.4 million loan for Millworks Apartments, a 124-unit community located at 900 Reichert Ave. in Novato, Calif.
- An $18.5 million loan for Reflections at the Park, a 244-unit complex located at 11510 NE 112th Drive in Vancouver, Wash.
- A $19.4 million loan for Tustin Cottages, a 93-apartment community at 1361 El Camino Real in Tustin, Calif.
- A $25.5 million loan for Urban Village, a 129-unit property at 1081 Long Beach Blvd. in Long Beach, Calif.
- An $18 million loan for Waterfront Apartments, a 96-unit community with 4,000 square feet of commercial space in Petaluma, Calif.