Northmarq’s Los Angeles office finalizes $36 million financing for The One in San Gabriel, California
LOS ANGELES (Jan. 16, 2024) — Karl Weidell and Zalmi Klyne of Northmarq’s Los Angeles Debt + Equity team successfully secured financing of The One, a mid-rise, mixed-use property. The 81-unit multifamily community will be completed in 2024 and is located at 101-109 East Valley Blvd in San Gabriel, California. Northmarq secured $36MM in total financing through Calmwater Capital and a Los Angeles based alternative lender. Financing was structured with a two-year interest only term. Northmarq represented the borrower, GE Properties in the transaction.
“This deal is demonstrable of what a competitive financing process warrants when markets are choppy, but the asset is strong,” said Weidell. “The fundamental value of new residential construction in Los Angeles is undeniable and we were able to meet the needs of client through a structured loan that provided certainty of execution at the requested loan dollars.”
Located in the heart of San Gabriel Valley within the prime Los Angeles MSA, The One offers dining and shopping opportunities at the legendary corner of Valley Boulevard and Del Mar Avenue. The community is in a highly walkable location with nearby access to public transportation systems.
The One features cafes and international restaurants on the first floor as well as a high-end international jeweler anchoring the property entrance. Subterranean parking is available for both commercial and residential units.
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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 $52 billion. For more information, visit www.northmarq.com.
