SAN FRANCISCO—Jeffrey Weidell, assisted by Brian Esquivel, of NorthMarq's San Francisco Regional office arranged first mortgage refinancing of $19.375 million for Valley Plaza Villages, a 144-unit market-rate multifamily community located at 4411 Valley Avenue in Pleasanton, CA. Financing was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower, E&S Ring, through its relationship with a correspondent life insurance company.“We negotiated prepayment and a loan increase with the existing lender based on strong property history,” said Weidell. “The borrower was able to achieve cash out and the lender was able to retain a quality loan due to a structured prepayment and refinance of the existing debt.”
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