Northmarq Secures $64.6M in Acquisition Financing for Seven-Property Affordable Housing Portfolio in San Fernando Valley

VAN NUYS, NORTH HILLS, PANORAMA CITY AND GARDENA, CALIF. — Northmarq has arranged $64.6 million in financing for the acquisition of a 596-unit, seven-property multifamily portfolio in the San Fernando Valley. The borrower is a Moorpark, Calif.-based private owner.

Zalmi Klyne of Northmarq’s Los Angeles office secured the 76 percent loan-to-value acquisition financing through numerous correspondent relationships with banks. The fixed-rate transaction was priced in the high 5 percent range and structured with interest-only payments.

The portfolio includes:

• 15125 Saticoy Street, a 51-unit property in Van Nuys
• 9014 Orion Avenue, a 77-unit asset in North Hills
• 8503 Tobias Avenue, a 41-unit complex in Panorama City
• 21205 Saticoy Street, a 57-unit community in Van Nuys
• 6706 Hayvenhurst Avenue, a 33-unit property in Van Nuys
• 14732 S. Maple Avenue, a multifamily community in Gardena
• 9019 Tobias Avenue, a 201-unit asset in Panorama City