Northmarq Arranges $105M Refinancing for Madrone Apartments in Silicon Valley
Why this matters
Multifamily has been the most actively underwritten sector through the rate cycle, with cap rate compression resuming in Sun Belt and gateway markets as 2024-2025 deliveries roll off and refinance demand on 2021-vintage bridge loans clears. Transaction velocity is up modestly, concentrated in stabilized Class A and grocery-adjacent garden assets. San Francisco continues to clear office at the deepest discounts to 2019 basis seen in the cycle, while multifamily fundamentals have stabilized and life sciences in the Peninsula remains active. Allocators continue to favor residential for its income durability and its insulation from secular demand questions that still hang over commercial sectors.
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On the RET wire
- The 93rd San Francisco story tracked on the wire in November 2026. All San Francisco coverage →
- Disclosed multifamily deal value tracked in November 2026: $13B across 56 reported transactions. All Multifamily coverage →
- 53 stories mentioning Northmarq on the wire in the past 90 days. Northmarq coverage →
Computed from Real Estate Trail’s own tracked coverage
MOUNTAIN VIEW, CALIF. — Northmarq has arranged a $105 million refinancing of Madrone Apartments, a 272-unit community at 111 N. Rengstorff Ave. in Mountain View, 35 miles south of San Francisco. Nathan Prouty and Andr…
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