TODAY’S DEALS: NorthMarq Capital Arranged $7.5M Loan for 312-Unit Apartment Community
- May 08, 2009
By Anuradha Kher, Online News EditorMiddlesex County, N.J.–NorthMarq Capital through its affiliate AmeriSphere Multifamily Finance, a Fannie Mae DUS lender, has closed a $7.5 million multifamily loan on a 312-unit apartment complex in Middlesex County, N.J. NorthMarq closed the loan in 29 days from deal identification. The borrower secured a favorable 5.27 percent rate on a 10-year loan based on a 30-year amortization. Hendricks & Partners Arranges Sale of Two MF Properties for Over $2MCarlsbad, Calif.–Hendricks & Partners arranged sale of two properties including nine-unit Oak Villa Apartments, located at 3095 Harding St. in Carlsbad, Calif., which sold for $1,340,000, and 13-unit Jefferson Apartments, located at 3110-3132 Jefferson St. also in Carlsbad, which sold for $1,825,000.Oak Villa features three studio units and six two-bedroom/one-bathroom units. Amenities include newly-rehabbed units, new double-pane windows, well-maintained landscaping, on-site laundry facility, carports and open parking. Jefferson Apartments is comprised of one studio unit, eight one-bedroom/one-bathroom units, and four two-bedroom/one-bathroom units. Amenities include gated patios, individual hot water heaters, new appliances, well-maintained landscaping, carports and open parking.Barker Family Trust sold the two to Glenn L. Goldman Family Trust, which is planning to upgrade both properties in order to raise rents and take advantage of the strongCarlsbad rental market.