NorthMarq Capital’s San Francisco office arranges acquisition financing of $5.96 million for affordable housing in Turlock, California
Villas at Parkside
SAN FRANCISCO (December 4, 2015) –Nathan Prouty, senior director and Andrew Slaton, vice president of NorthMarq Capital’s San Francisco office arranged, on behalf of their client RVH Capital, LLC, acquisition financing of $5.96 million for Villas at Parkside, a 104-unit affordable housing property located at 381 West Hawkeye Avenue in Turlock, California. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its Fannie Mae DUS program. “The borrower was able to capitalize on the unique opportunity to acquire a 100 percent affordable housing multifamily property by securing a competitively priced loan through Fannie Mae,” said Slaton. “The loan represents 80 percent loan to purchase price, which was a key component for financing this deal.”
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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.
