Updated Aug 27, 2026
Northmarq Secures $56.1 Million Refinance For 354-Unit Wintercrest Village Apartments In Lakeside
12002 Wintercrest Drive
$56,100,000
Units
354
Asset Type
MultiFamily
Closing
Aug 13, 2026
About this deal
AI
Wintercrest Village Apartments is a multifamily asset featuring 354 units located at 12002 Wintercrest Drive in Lakeside, CA. A refinance loan of $56,100,000 was secured through Fannie Mae’s DUS platform, utilizing a 10-year term with full-term interest-only payments, allowing the borrower to unlock equity while maintaining cash flow.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $56,100,000
- Loan Type: Refinance
- Loan Terms: 10-year term, full-term interest-only payments
- Units: 354
- Address: 12002 Wintercrest Drive, Lakeside, CA
- Broker Representatives: Aaron Beck, Conor Freeman & Robbie Driscoll - NorthMarq
The transaction involved NorthMarq securing the refinance for Wintercrest Village Apartments, enabling the borrower to access equity without impacting cash flow. The brokers, Aaron Beck, Conor Freeman, and Robbie Driscoll, were instrumental in facilitating this financing through their expertise in the multifamily sector.
On the Map
$56,100,000
MultiFamily
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Players
Lakeside MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93