Northmarq secures $11M refinance for 82-unit multifamily community
Eric Flyckt, managing director of Northmarq’s San Diego office, secured a $11 million refinance of an 82-unit multifamily property in Riverside, California. The five-year, fixed-rate, non-recourse loan was structured with full-term interest-only payments.
Northmarq funded the loan as a direct Freddie Mac lender and will service the loan. The five-year Treasury yield was locked at application using Freddie Mac’s Index Lock execution.
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