Zalmi Klyne, Senior Vice President and Managing Director of Northmarq’s Debt + Equity team in Los Angeles, has successfully secured an $8.28 million internal refinance for Park Place Apartments. The 47-unit multifamily property is located in Lancaster and was financed through Northmarq’s Fannie Mae DUS team.
The financing was arranged on behalf of a private investor with a five-year term, including three years of interest-only payments. It follows a 30-year amortization schedule.
Built in 1984, Park Place Apartments consists of ten two-story buildings and offers residents convenient access to major employers, amenities, recreation opportunities within Greater Los Angeles. The property also boasts community amenities such as a resort-style swimming pool and courtyard.
This transaction marks another successful deal by Northmarq as they continue to provide top-notch financial solutions for their clients’ real estate needs.
