HOLLYWOOD, CA—Robert Hervey, executive vice president and managing director of NorthMarq's Los Angeles regional office, has arranged first mortgage refinancing of $10.5 million for Hillside Terrace Apartments, a 79-unit market-rate multifamily property located at 7245 Hillside Avenue in Hollywood. Financing was based on 10-year term and a 30-year
amortization schedule.
NorthMarq arranged this financing for the borrower through its seller-servicer relationship with Freddie Mac.
“This transaction was a cash-out refinance of an existing Freddie
Mac portfolio loan that will mature later this year,” said Hervey.
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