SAN FRANCISCO (January 9, 2018) – Dennis Sidbury, senior vice president/senior director of NorthMarq Capital’s San Francisco regional office, negotiated acquisition financing of $2,200,000 for 1045 Cabrillo, a 6-unit multifamily property located in San Francisco, California. The beautiful complex is newly remodeled and located minutes away from popular attractions such as the Golden Gate Bridge. This transaction was structured by a 3-year interest only loan term. NorthMarq arranged financing for the borrower, Half Dome Capital, through its relationship with the lender, First Foundation Bank.
“This was a tremendous value-add opportunity for the borrower on an asset situated in an incredibly strong submarket,” noted Sidbury. “The financing facilitated the acquisition and allowed for the addition of multiple units that will further enhance the property’s cash flow.”
About Half Dome Capital
Half Dome Capital was founded in 2008 to acquire distressed financial assets in the San Francisco Bay Area such as deeds of trust, liens, judgments, and partial ownership interests. In recent years we have focused more on judgments. The time and legal fees in enforcing a judgment can be overwhelming. Sometimes the burden of a judgment weighs more on the plaintiff than the defendant. At Half Dome Capital we want to help plaintiffs. We provide our clients a fast way to monetize/sell court judgments because we use a long-term buy and hold investment strategy and we spread our risk. Our founder was the managing partner of an options trading firm for seven years, and has been an active investor in California residential real estate since 2001.
About First Foundation Bank
First Foundation, a financial institution founded in 1990, provides personal banking, business banking and private wealth management. The Company has offices in California,Nevada, and Hawaii with headquarters in Irvine, California. For more information, please visit www.firstfoundationinc.com.
About NorthMarq Capital
NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through its 37 offices nationwide. The company has built long-term relationships with life companies, CMBS platforms and local, regional and national banks, with a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. The company closes approximately $13 billion in commercial real estate loans annually and services a loan portfolio of more than $50 billion. For more information please visit www.northmarq.com.