NorthMarq Capital arranged $1.785 million mortgage for Columbus Street Apartments in Bakersfield, California
Columbus Street Apts
LOS ANGELES (January 28, 2013) – David Blum, senior vice president and senior director of NorthMarq’s Los Angeles regional office, arranged acquisition financing of $1.785 million for Columbus Street Apartments, a 40-unit market-rate multifamily property located in Bakersfield, California. Financing was based on a 5-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a local credit union. “This transaction closed with a 70% loan to value and a 4.0% interest rate,” said Blum.
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