Northmarq arranges $8.28 million refinance of Park Place Apartments in Lancaster, CA
LOS ANGELES (July 11, 2024) — Zalmi Klyne, senior vice president and managing director of Northmarq’s Los Angeles Debt + Equity team, successfully secured the internal refinance of a 47-unit multifamily property for $8.28 million. Park Place Apartments was built in 1984 and features 10 two-story buildings.
Northmarq arranged financing on behalf of the borrower, a private investor, through its in-house Fannie Mae DUS team. The transaction was structured on a 5-year term, 3 years interest only, with a 30-year amortization schedule.
Located in one of Antelope Valley’s largest cities, Park Place Apartments offers luxury two- and three-bedroom apartment homes. Each unit features state-of-the-art kitchens, vinyl plank flooring, washer/dryer hookup and a two-car attached garage. Residents enjoy easy access to Greater Los Angeles’ major employers, amenities and recreation as well as community amenities like a resort-style swimming pool and courtyard.
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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 an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 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.
