Zalmi Klyne, Senior Vice President and Managing Director of Northmarq’s Debt + Equity team in Los Angeles, 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 on behalf of a private investor.
The financing was structured with a five-year term, including three years of interest-only payments, and follows a 30-year amortization schedule.
Built in 1984, Park Place Apartments consists of ten two-story buildings situated at 43253 20th St. This prime location offers residents convenient access to major employers, amenities and recreational activities within the Greater Los Angeles area. Community features include a resort-style swimming pool and courtyard.
This successful transaction showcases Northmarq’s expertise in arranging financing for multifamily properties within the Antelope Valley region without mentioning specific brands or locations.
