NorthMarq Capital arranged $45.28 million mortgage for 1677 South Bascom Avenue in Campbell, California
1677 S. Bascom Avenue
SAN FRANCISCO (May 16, 2013) – John Kerslake, SVP/senior director of NorthMarq’s San Francisco-based regional office, arranged a low loan-to-value, non-recourse construction loan with a mini perm in the amount of $45.28 million for 1677 South Bascom Avenue in Campbell, California. This asset is a mixed-use apartment complex containing 168 market-rate multifamily units along with 15,000 sq. ft. of retail space. Financing was based on a 3-year interest-only term. NorthMarq arranged this financing for the borrower through its relationship with a regional bank.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
