Northmarq‘s Newport Beach Debt + Equity team has successfully arranged $53.72 million in financing for Fairmont at Willow Creek, a 260-unit garden-style apartment community located at 200 S. Lexington Drive in Folsom, California.
The team — led by Joe Giordani, Alex Kane, Brendan Golding and Alvin Cao — arranged financing on behalf of the borrower, CWS Capital Partners LLC, through Northmarq’s in-house Fannie Mae DUS team.
“The Northmarq team was highly engaged throughout the closing process, ensuring everything went seamlessly. We achieved outstanding outcomes in both proceeds and interest rate,” said Gary Carmell, president of CWS Capital Partners.
Built in 1999, Fairmont at Willow Creek offers one- and two-bedroom apartments with custom kitchens, in-unit washer/dryers and private patios/balconies. Community amenities include a clubhouse, swimming pool and spa, fitness center, dog park and more.
“CWS timed the market perfectly to execute on this early refinance, locking in a great rate and providing them with cash-out dollars for planned property improvements,” said Giordani.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $78 billion and a three-year transaction volume of $69.5 billion.
