NorthMarq Capital arranged $19.375 million mortgage for Valley Plaza Villages in Pleasanton, California
Valley Plaza Villages
SAN FRANCISCO (February 20, 2013) – Jeffrey Weidell, assisted by Brian Esquivel, of NorthMarq’s San Francisco regional office, arranged first mortgage refinancing of $19.375 million for Valley Plaza Villages, a 144-unit market-rate multifamily community located at 4411 Valley Avenue in Pleasanton, California. Financing was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower, E&S Ring, through its relationship with a correspondent life insurance company. “We negotiated prepayment and a loan increase with the existing lender based on strong property history,” said Weidell. “The borrower was able to achieve cash out and the lender was able to retain a quality loan due to a structured prepayment and refinance of the existing debt.”
About Northmarq
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
