SAN FRANCISCO-Jeffrey Weidell, Nathan Prouty and Andrew Slaton of NorthMarq's San Francisco regional office, have secured refinancing of $89.1 million for three apartment properties located throughout California.
Financings for the The Boulders, Chesapeake Point and Los Robles Apartments were structured with 10-year terms and 30-year amortization schedules. NorthMarq arranged the financing through its relationship with The Guardian Life Insurance Company of America (“Guardian”).
“In addition to prepayment flexibility, Guardian offered the borrower the ability to build new units at two of the properties and resize the loans after their completion,” said Weidell.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
