NorthMarq Arranges $25.388M, Interest-Only, Fannie Mae Loan through AmeriSphere
- Jul 30, 2010
San Diego– Dennis Williams, managing director of NorthMarq Capital’s San Francisco Regional office, and Casey Boome, an Investment Analyst in NorthMarq’s San Francisco office, arranged a $25.388 million first mortgage for Jefferson at Carmel Mountain Ranch.
The property is a 277-unit multifamily property located at 11832 Stoney Peak Drive in San Diego.
Financing was based on a five-year , interest-only, term and was arranged for the borrower, Carmel Mountain Apartments Inc., by NorthMarq through its affiliate AmeriSphere Multifamily Finance LLC, a Fannie Mae DUS lender.
Mr. Williams states, “This property is a beautifully maintained, Class-A asset in a strong San Diego location. We were able to provide non-recourse, five-year interest-only loan with an early-rate lock execution, allowing our client to take advantage of a decline in Tyields during the application process.”