NorthMarq Capital’s Los Angeles office arranges acquisition financing of $2.28 million for Long Beach Apartment portfolio
Apartment Portfolio
LOS ANGELES (April 11, 2016) – Mark Dodson, vice president of NorthMarq Capital’s Los Angeles office arranged acquisition/bridge financing of $2.28 million for a portfolio of two multifamily properties consisting of a combined 20-units located at 1744 East 2nd Street and 563 Cherry Avenue in Long Beach, California. The transaction was structured with a two year interest only term. NorthMarq arranged financing for the borrower through its relationship with a regional bank. “The borrower is a seasoned investor in value-add multifamily properties in Long Beach,” said Dodson. “NorthMarq Capital was able to provide them with a unique acquisition/bridge program that will enable them to execute short-term rehab plans.”
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.
