SAN FRANCISCO (October 20, 2016) –Nathan Prouty, managing director and Andrew Slaton, vice president of NorthMarq Capital’s San Francisco office, arranged acquisition financing of $5.6 million for Amber Grove Apartments, a 109-unit multifamily property located at 4009 Marconi Avenue in Sacramento, California. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through Fannie Mae.
“NorthMarq’s Fannie Mae DUS provided the most attractive terms for this repeat borrower,” said Prouty. “Certainty of execution was important since it was an acquisition and the sponsor liked being able to lock in long-term, low fixed rate debt while reserving the ability to obtain a supplemental loan following a value-add strategy for the asset.”
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 across the U.S. The company has built long-term relationships with life companies, CMBS platforms and local, regional and national banks and has a long track record of multi-family loan origination through Freddie Mac Program Plus™, the Fannie Mae DUS program and through FHA, resulting in more than $12 billion in annual production volume and a loan portfolio of more than $47 billion. For more information please visit www.northmarq.com.