River Run Apartments in San Diego, California receives refinance of $22.7 million courtesy of NorthMarq Capital’s Miami office
MIAMI (August 1, 2013) – Bill Johnson, senior vice president/managing director of NorthMarq Capital’s Miami-based office negotiated the $22.7 million refinance of River Run Apartments, a 154,944 sf multifamily property containing 192 dwelling units, comprised of 96 one‐bedroom/one‐bath units and 96 two‐bedroom/two‐bath units. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.
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.
