Northmarq Arranges Refi on Antelope Valley Apartments

Zalmi Klyne, SVP and managing director of Northmarq’s Los Angeles Debt + Equity team, secured the internal refinance of Park Place Apartments, a 47-unit multifamily property in Lancaster, for $8.28 million. Northmarq arranged financing on behalf of the borrower, a private investor, through its in-house Fannie Mae DUS team.

The transaction was structured on a five-year term, including three years interest only. It’s on a 30-year amortization schedule.

Located at 43253 20th St. in Lancaster, one of the Antelope Valley’s largest cities, Park Place Apartments was built in 1984 and features 10 two-story buildings. Residents have convenient access to Greater Los Angeles’ major employers, amenities and recreation as well as community amenities like a resort-style swimming pool and courtyard.