Dealmaker: Northmarq Completes $46M in Multifamily Refis

Northmarq, Minneapolis, arranged $45.9 million to refinance four Wisconsin and California multifamily properties.
In Janesville, Wis., Northmarq Vice President Mark Ebersold secured $28.1 million to refinance Village Green Apartments, a 406-unit property located at 3121 Village Court.

Village Green Apartments. Photo courtesy of NorthMarq

The 10-year loan included two years of interest-only payments followed by a 30-year amortization schedule. A commercial mortgage-backed securities lender supplied the financing.

Northmarq also completed supplemental financing totaling $17.8 million for three multifamily properties in Santa Clarita and Canyon Country, Calif.

Ory Schwartz, Senior Vice President and Managing Director of Northmarq’s Los Angeles office, completed the six-year interest-only financing for Sand Canyon Villas & Townhomes, Diamond Park and Canyon Country Villas through NorthMarq’s Optigo status as a Freddie Mac lender.

Located at 28923 North Prairie Lane in Santa Clarita, Calif., 215-unit Sand Canyon Villas & Townhomes received $4.6 million. Diamond Park at 27940 Solamint Road in Santa Clarita received a $6.6 million loan. Canyon Country Villas at 26741 North Isabella Parkway in Canyon Country received $6.5 million. This 328-unit property is 35 miles northwest of downtown Los Angeles.