SAN MATEO, CA-NorthMarq's San Francisco regional office has arranged a construction loan of $32 million for Field House Apartments located at 2889 East Kyne Street in San Mateo.
The property 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 Dennis Williams, managing director of NorthMarq San Francisco, through the firm's 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.
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