SAN FRANCISCO—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, CA. 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.”
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
