May 9, 2016

NorthMarq Capital’s Los Angeles office arranges acquisition financing of $1.2 million for multifamily property in East Hollywood, California

Multifamily Property

Debt & Equity

Multi-Tenant

LOS ANGELES (May 9, 2016) – Mark Dodson, vice president of NorthMarq Capital’s Los Angeles-based regional office , arranged acquisition financing of $1.2 million for a 12-unit multifamily property located at 4531 Normal Avenue in East Hollywood, California. The transaction was structured with a 30-year term with an initial fixed period of seven years and featured a 45-day close due to a 1031 exchange. NorthMarq arranged financing for the borrower through its relationship with a national bank. “The borrower had a tight closing window due to a 1031 exchange and a previous lender being unable to perform,” said Dodson. “NorthMarq was able to secure multiple quotes and guide the borrower through the closing process with a new lender to meet the deadline.”

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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 more than $52 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.