NorthMarq Capital’s Los Angeles office arranges $35.2 million in supplemental financing for Advanced Real Estate Services portfolio

LOS ANGELES (June 20, 2016) – Michael T. Elmore, executive vice president/managing director of NorthMarq Capital’s Los Angeles-based regional office, arranged a refinance of $35.2 million for a multifamily portfolio consisting of five apartment communities: • Beachwood— a 301-unit class “A” property located at 2970 W. Orange Ave, Anaheim, California. • California Palms — a 190-unit class “B” property located at 901 S Harbor Blvd, Santa Ana, California. • Countrywood — a 161-unit class “B” property located at 1255 E Citrus Ave, Redlands, California. • Summerwood — a 98-unit class “B” property located at 600 N Harbor Blvd, La Habra, California. • Sundial — a 106-unit class “A” property located at 2701 W Ball Road, Anaheim, California. The transaction was structured with a 5-year term with average interest rate of 4.85 percent followed by a 30-year amortization schedule. NorthMarq arranged financing with Advanced Real Estate Services through its relationship with Freddie Mac. “The refinanced portfolio consists of 856 apartment units and includes over 667,000 net rentable square feet situated over 28 acres of land,” said Elmore. “Each complex offers several floor plans that range anywhere from studio to three bedroom units.”