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California  + Los Angeles  + Apartments  | 

Northmarq Closes Multifamily Sale, Financing in West Hollywood

Northmarq completed the $23-million sale and arranged $12.53 million in acquisition financing for Terraces at La Cienega, a 48-unit multifamily community located in West Hollywood. The transaction was a joint effort among Northmarq’s Westlake Village, Los Angeles and Newport Beach offices. 

Vince Norris, Jim Fisher, Mike Smith, Steven Goldstein and Tommy Yates represented both the seller, Hankey Capital, and buyer, Regent Properties, in partnership with Amoroso Companies and Arselle Investments.

“We are excited to have been selected by Hankey to introduce this opportunity to the market,” said Norris. “This location is arguably one of the finest in the city, offering various strategic options, including deed-restricted affordable housing. We presented Hankey with several offers, leading to a successful closing that satisfied both the buyer and seller.”

Scott Botsford, Joe Giordani and Brendan Golding secured the financing on behalf of Regent Properties through Northmarq’s in-house Fannie Mae DUS platform. The loan was structured with a five-year term.

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Inside The Story

Northmarq's Norris

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).

  • ◦Sale/Acquisition
  • ◦Financing
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