NorthMarq Arranges Take-Out Financing for New MF Development
NorthMarq Capital arranged a $16.29 million refinance of a newly developed multifamily property located in Lemon Grove, CA. The financing was arranged for an undisclosed borrower through NorthMarq’s relationship with Fannie Mae. NorthMarq Capital’s Aaron Beck handled the transaction.
“This loan replaced the existing construction loan,” said NorthMarq’s Beck, who notes they assisted with locking the rate at the time stabilized occupancy was achieved, and closing the loan just a few days thereafter. “This provided a return of the borrower’s equity much sooner than if a traditional loan product was used for the refinance.”
Beck added, “The financing took advantage of a reduced interest rate incentive from Fannie Mae, due to the property’s LEED certification. The borrower achieved significant cash-out with a low fixed interest rate.”
Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services.
In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company.
In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix.
Dennis’s agency background included firms such as 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, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.
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