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NorthMarq Secures $75M in Financing for Mediterranean Village Apartments in Costa Mesa, California

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Located in Costa Mesa, Calif., Mediterranean Village features 508 apartments.

COSTA MESA, CALIF. — NorthMarq has arranged $75 million in permanent refinancing for Mediterranean Village, a 508-unit, garden-style multifamily property located at 2400 Harbor Blvd. in Costa Mesa. The borrower was an affiliate of E&S Ring Management Corp.

Nathan Prouty and Andy Slaton of NorthMarq’s San Francisco office arranged the 10-year loan, which features interest-only payments and a fixed rate. The borrower used loan proceeds to fund a variety of capital improvements at the property.

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