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California  + Apartments  | 

Northmarq Arranges $54M Refi on Folsom Apartments

 Northmarq’s Newport Beach Debt + Equity team arranged $53.72 million in financing for Fairmont at Willow Creek, a 260-unit garden-style apartment community located at 200 S. Lexington Dr. in Folsom. Led by Joe Giordani, Alex Kane, Brendan Golding and Alvin Cao, the team arranged financing on behalf of the borrower, CWS Capital Partners LLC, through Northmarq’s in-house Fannie Mae DUS team.

The transaction was structured with a five-year term and full-term interest-only payments. It featured a 70% loan-to-value ratio and used a 35-year amortization schedule for sizing purposes.

“CWS timed the market perfectly to execute on this early refinance, locking in a great rate and providing them with cash-out dollars for planned property improvements,” said Giordani.

Fairmont at Willow Creek offers one- and two-bedroom apartments with custom kitchens, in-unit washer/dryers and private patios/balconies. Community amenities include a clubhouse, swimming pool and spa, fitness center, dog park and more. 

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Northmarq's Giordani

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing
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