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Northmarq Arranges $24M Loan on Fremont Multifamily
Northmarq’s San Francisco Debt + Equity team arranged $23.9 million in financing for the purchase of Fremont City Center, a 122-unit garden-style apartment community in Fremont. The team was led by managing director Nate Prouty and SVP Briana DeHaan, with support from Andrew Deaver.
The financing was arranged on behalf of the borrower through Northmarq’s Optigo status as a Freddie Mac lender.
“This fixed rate permanent loan will enable new ownership to focus on the business plan at the property and offer a high-quality community to residents in Fremont,” said DeHaan. “Despite volatility in the capital markets, all parties worked diligently to close the acquisition, resulting in a great transaction at the end of the day.”
The property is situated on 5.21 acres and features ample community amenity space and parking. It was constructed in 1970 and was extensively renovated between 2020-2023.
- ◦Sale/Acquisition
- ◦Financing
