NorthMarq Capital’s San Francisco Office Arranges Acquisition and Construction Financing of $72MM for Renaissance Square, Phase I & II

Phases I & II, Concord, Renaissance Square, NorthMarq Capital, San Francisco, Bay Area

Phases I & II, Concord, Renaissance Square, NorthMarq Capital, San Francisco, Bay Area

SAN FRANCISCO (October 20, 2016) – Jeffrey Weidell, president, and Nathan Prouty, managing director of NorthMarq Capital’s San Francisco office, arranged acquisition and construction financing of $72 million for Renaissance Square, Phases I & II.

The 134-unit multifamily property, located in Concord, California, will be adding 180 units. The transaction was structured with a 15-year term with 3-years interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.

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 36 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 more than $12.5 billion in commercial real estate loans annually and services a loan portfolio of more than $47 billion. For more information please visit www.northmarq.com.

West Coast Commercial Real Estate News