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California  + Orange County  + Finance  | 

$130M Refi for MF Portfolio

NorthMarq Capital arranged $130.7 million in refinancing of a portfolio of three SoCal multifamily properties. The assets contain a combined 655 units and are located in Anaheim, Bellflower and Santa Ana.

The transaction was structured with a 10-year term, with 1-year of interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower, Advanced Real Estate Services, through its seller/servicer relationship with Freddie Mac.

The properties include Sherwood, a 297-unit multifamily property in Bellflower that received refinancing of $60.65 million; Park Plaza, a 243-unit property in Santa Ana that received refinancing of $50.1 million; and Twin Pines, a 115-unit property in Anaheim that received refinancing of $19.98 million.

NorthMarq’s Michael T. Elmore, who arranged the financing, said “Freddie Mac provided excellent execution and economic terms. Advanced Real Estate Services received significant cash-out proceeds for continuing asset improvements and future acquisitions.”

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Financing
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