Multifamily Leads Production Volumes in 3Q2018; Owners Seeking Funding for Renovation, Redevelopment, New Development or Refinance Reviewing Options to Lock in Best Term Rates
SAN FRANCISCO (October 23, 2018) – Newmark®, the largest independent commercial mortgage banking firm in the U.S. has arranged $13,250,000 in fixed-rate financing for the Village at Park View, an 85-unit garden style apartment complex in Antioch, CA. Located adjacent to CA Highway 4, just blocks from the Somersville Town Center Shops, the complex is comprised of a mix of 1, 2, and 3-bedroom units in ten separate two-story buildings.
Robert Slatt, Principal, and Charlie Kokernak, Associate, of Newmark’s San Francisco office, worked with the borrower in securing the loan with a regional bank. The acquisition financing will be fixed for five years, with a 30-year amortization.
Newmark, a privately held company based in San Francisco, is a full service mortgage banking firm with an extensive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 70 employees in regional offices throughout the western United States. The company’s national servicing platform of $12 billion represents over 1,300 loans located in 42 states. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.