Northmarq Secures $14.8M Construction Loan for Arcadia Condos

Northmarq’s Los Angeles Debt + Equity team, led by Karl Weidell, arranged a $14.8-million construction loan at 85% loan-to-cost for a 24-unit condominium development located in Arcadia.

Northmarq arranged the financing on behalf of the borrower, a vertically integrated real estate development firm, via a debt fund execution.

“With decades of local entitlement and development experience, the resulting low LTV of the project allowed for aggressive leverage and attractive pricing in the 8% range,” Weidell said.

The project consists of 24 condominium units situated on approximately 0.63 acres in Arcadia, one of the San Gabriel Valley’s most established residential communities. Planned for completion in 2027, the property spans four buildings totaling over 43,000 square feet.

Positioned within the Western San Gabriel Valley submarket, the community benefits from proximity to major transportation corridors connecting residents throughout L.A. metro. The location also offers convenient access to a wide range of retail, dining and entertainment destinations throughout Arcadia.

The community’s location, condominium ownership structure and accessibility position the asset well within the local market.

Northmarq is one of the largest privately held commercial real estate firms in the United States. The firm manages a loan servicing portfolio of over $80 billion and has completed $91.3 billion in transactions over the past four years.

Information for this article was sourced from Northmarq.