Northmarq Arranges $34 Million Freddie Mac Refinance For 324-Unit Multifamily In Upland CA

The asset involved in this transaction is Northwoods Apartments, a multifamily community located at 1662 West Arrow Highway, Upland, CA. The property comprises 324 units and is part of a refinancing transaction through Freddie Mac for a total amount of $34 million. This refinancing aims to support a mix of workforce and deed-restricted affordable housing units within the property. The loan type is a refinance with a 10-year term, featuring full-term interest-only payments.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $34,000,000
• Loan Type: Refinance
• Loan Terms: 10-year term, full-term interest-only payments
• Lender: Freddie Mac
• Market: Upland, CA
• Units: 324
• Brooks: Conor Freeman & Aaron Beck - NorthMarq

Conor Freeman and Aaron Beck of NorthMarq arranged the refinancing deal with Freddie Mac. Their efforts facilitated access to the Freddie Mac’s Targeted Affordable Housing program, helping to enhance the financial structure of Northwoods Apartments aimed at maintaining its affordable housing strategy in the Upland area.