SAN FRANCISCO, CA – Dennis M. Williams, managing director of NorthMarq’s San Francisco regional office, arranged a construction loan of $32 million for Field House Apartments located at 2889 East Kyne Street in San Mateo, CA. This asset is a multifamily apartment project containing 108 market-rate units. It is the first apartment development built in Phase II of the master-planned community known as Bay Meadows. Financing was based on a 36-month interest-only term and was arranged for the borrower by NorthMarq through its relationship with a regional bank.
“The lender provided attractive construction loan terms including a flexible loan amount with attractive pricing,” Williams said.
NorthMarq, the largest privately held commercial real estate financial intermediary in the U.S., provides mortgage banking and commercial loan servicing in 33 offices coast to coast. With an average of $9.5 billion in annual production volume and servicing a loan portfolio of over $41 billion, the company offers expertise to borrowers of all size. The company has a long track record of multi-family financing as a Freddie Mac Program Plus™ Seller-Servicer, and through its affiliation with Fannie Mae DUS lender AmeriSphere Multifamily Finance. In addition, NorthMarq has long relationships with over 50 life companies, many CMBS platforms and hundreds of local, regional and national banks. For more information, please visit www.northmarq.com.