Developer Geoff Palmer, who owns several properties in Santa Clarita and across the Southland, refinanced three Canyon Country apartment complexes, securing $114 million.

The financings were on behalf of Beverly Hills-based developer G.H. Palmer Associates, totaling $114.125 million for three multifamily properties in Canyon Country, according to Ory Schwartz, senior vice president of NorthMarq Capital’s Los Angeles regional office.

Palmer Associates owns 10 apartment properties in the Santa Clarita Valley, as part of a 22-property portfolio in Southrn California.

NorthMarq arranged financing for the borrower through its Freddie Mac platform utilizing the Green Advantage program.

Below are the properties that were refinanced:

Canyon Country Villas, a 328-unit multifamily property located at 26741 North Isabella Parkway in Canyon Country, received refinancing of $46.09 million from Freddie Mac.

Sand Canyon Villas, a 215-unit multifamily property located at 28923 North Prairie Lane in Canyon Country, received refinancing of $34.98 million through the platform.

Diamond Park, a 256-unit multifamily property located at 27940 Solamint Road in Canyon Country, received refinancing of $33.055 million from Freddie Mac.

All three transactions were structured with a 10-year, interest-only term, according to Schwartz.

“G.H. Palmer timed these cash-out refinances perfectly. We were able to rate lock at application at sub 4 percent interest rates,” said Schwartz. “The new full term interest only loans paid off existing bond financing, Freddie Mac supplemental loans, and provided substantial cash out.”

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