California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Northmarq Arranges Refi on Antelope Valley Apartments
Zalmi Klyne, SVP and managing director of Northmarq’s Los Angeles Debt + Equity team, secured the internal refinance of Park Place Apartments, a 47-unit multifamily property in Lancaster, for $8.28 million. Northmarq arranged financing on behalf of the borrower, a private investor, through its in-house Fannie Mae DUS team.
The transaction was structured on a five-year term, including three years interest only. It’s on a 30-year amortization schedule.
Located at 43253 20th St. in Lancaster, one of the Antelope Valley’s largest cities, Park Place Apartments was built in 1984 and features 10 two-story buildings. Residents have convenient access to Greater Los Angeles’ major employers, amenities and recreation as well as community amenities like a resort-style swimming pool and courtyard.
- ◦Financing