NorthMarq Capital Finalizes $10.2 Million Refinance of University of Southern California Student Housing

Los Angeles — Ory Schwartz arranged the financing, which included more than $2 million in additional capital for future projects.

Los Angeles —Ory Schwartz, senior vice president and managing director of NorthMarq Capital's Los Angeles-based regional office, has arranged refinancing worth approximately $10.2 million for a five-property portfolio, consisting of student housing apartments located near the University of Southern California. NorthMarq arranged financing for the borrower through its relationship with a local bank. "The borrowers were repeat clients with the bank and were able to secure 15-year loans on each property in which the first five years were fixed rate before switching to a floating rate," says Schwartz. "The borrower was able to refinance existing loan amounts and to take out additional capital in excess of $2 million for future projects."

 

 

 

 

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