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California  + Inland Empire  + Finance  | 

NorthMarq Delivers $14M in Financing for Chino Apts.

Somerset Apartments, a 116-unit multifamily property in Chino received $13.7 million in refinancing. The permanent-fixed loan was structured with a 10-year interest-only term with an interest rate well below 3%.

NorthMarq’s Joe Giordani, Scott Botsford, and Brendan Golding secured the refinancing for the unnamed borrower via Freddie Mac.

NorthMarq’s Giordani explains, “The client had an approaching loan maturity with a major bank that is a mainstream apartment lender. The bank reached out with a refinance quote that had an interest rate well above what the agencies could offer. The client asked NorthMarq to produce quotes from both Freddie Mac, Fannie Mae, HUD, and the Life Companies. The client quickly realized the rate was 50 basis points lower than the banks refinance option.”

NorthMarq’s Shane Shafer added, “The result is we saved them more than $1 million in debt service compared to other quotes they were considering.”

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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