LOS ANGELES – Daniel B. McCarthy, senior vice president/senior director of NorthMarq Capital’s Los Angeles based regional office secured the $8 million refinance of Arabella Apartments, a 120-unit multifamily property located at 4375 E. Sunset Road in Henderson, Nevada. The transaction was structured with a 10-year term and 30-year amortization schedule. Northmarq arranged financing for the borrower through its seller/servicer relationship with Freddie Mac.
“The lowed fixed rate with maximum proceeds allowed the borrower to stabilize cash flow out of an increasing floating rate loan,” said McCarthy.
About NorthMarq Capital
NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides mortgage banking and commercial loan servicing in 34 offices coast to coast. With more than $10 billion in annual production volume and servicing a loan portfolio of more than $42 billion, the company offers expertise to borrowers of all size. The company has a long track record of multi-family financing as a Freddie Mac Program Plus™ Seller-Servicer, and through its affiliation with Fannie Mae DUS lender AmeriSphere Multifamily Finance. In addition, NorthMarq has long loan production and loan servicing relationships with more than 50 life companies, many CMBS platforms and hundreds of local, regional and national banks. For more information, please visit www.northmarq.com.