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California  + San Diego  + Finance  | 

NorthMarq Arranges $31M Fannie Mae Refi for Trio of MFs

NorthMarq completed the $31,054,000 refinancing of a portfolio of three multifamily properties located in Lakeside, near San Diego, and in Las Vegas. The portfolio contains a combined 924 units.

The transaction was structured with 10-year interest-only terms. NorthMarq’s Gardiner Champlin and Marty Meagher arranged the permanent-fixed loans for the sponsor, an unnamed San Diego based client, through its in-house Fannie Mae team.

Champlin says, “The NorthMarq Fannie Mae team successfully closed the refinance of three maturing loans during the early stages of the COVID 19 pandemic, delivering exceptionally low 10-year fixed interest rates. Property net cash flow was materially improved with these refinancing’s, the process and closings were essentially stress-free, and our client is very pleased with the outcome.”

The properties include:
– Stoneridge Apartments: 12840 Mapleview St. in Lakeside, 132 units constructed in 1986 (pictured),
– Silverado Village: 3750 Arville St. in Las Vegas, 440 units constructed in 1981
– Summerlin Entrada: 1701 Rock Springs Dr. in Las Vegas, 352 units constructed in 1987

For comments, questions or concerns, please contact Dennis Kaiser

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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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