Friday, July 17, 2026
Northmarq secures financing for Inland Empire community
Northwoods Apartments offers residents convenient access to major transportation corridors, employment centers, retail destinations and recreational amenities.
Photo courtesy of Northmarq
The 324-unit Northwoods Apartments in Upland has received $34 million in permanent refinancing. A team from Northmarq’s San Diego office secured the loan.
The 324-unit Northwoods Apartments in Upland has received $34 million in permanent refinancing. A team from Northmarq’s San Diego office secured the loan.
Northmarq's San Diego debt and equity team, led by Conor Freeman and Aaron Beck, successfully arranged $34 million in permanent refinancing for a 324-unit multifamily property in the Inland Empire.
Northmarq arranged the permanent-fixed financing for Northwoods Apartments on behalf of the borrower through the firm's relationship with Freddie Mac. The permanent fixed-rate loan is structured as a 10-year term, with full-term, interest-only payments.
"Northwoods Apartments is an excellent example of a community that combines naturally occurring workforce housing with deed-restricted affordable units, helping meet the growing demand for attainable rental options in the Inland Empire," Freeman said in a statement. "By utilizing Freddie Mac's Targeted Affordable Housing program, we were able to deliver a long-term financing solution that helps preserve renter affordability while aligning with our client's investment objectives."
The garden-style multifamily community is located at 1662 W. Arrow Highway in Upland. It features one- and two-bedroom floorplans with amenities such as central air conditioning, vinyl flooring and walk-in closets.
It also boasts two swimming pools and four heat-steamed spas.
Located in San Bernadino County, Northwoods Apartments offers residents convenient access to major transportation corridors, employment centers, retail destinations and recreational amenities throughout the Inland Empire.
The community is served by highly rated local schools, including Moreno Elementary School, Serrano Middle School, and Upland High School.
As one of the Inland Empire's most established multifamily markets, Upland continues to benefit from strong regional connectivity, a diverse employment base and sustained renter demand, positioning Northwoods Apartments for long-term success.
Northmarq is a privately held commercial real estate firm, combining a nationwide presence with deep local expertise. It has more than 50 offices across the country, providing a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types.
Northmarq arranged the permanent-fixed financing for Northwoods Apartments on behalf of the borrower through the firm's relationship with Freddie Mac. The permanent fixed-rate loan is structured as a 10-year term, with full-term, interest-only payments.
"Northwoods Apartments is an excellent example of a community that combines naturally occurring workforce housing with deed-restricted affordable units, helping meet the growing demand for attainable rental options in the Inland Empire," Freeman said in a statement. "By utilizing Freddie Mac's Targeted Affordable Housing program, we were able to deliver a long-term financing solution that helps preserve renter affordability while aligning with our client's investment objectives."
The garden-style multifamily community is located at 1662 W. Arrow Highway in Upland. It features one- and two-bedroom floorplans with amenities such as central air conditioning, vinyl flooring and walk-in closets.
It also boasts two swimming pools and four heat-steamed spas.
Located in San Bernadino County, Northwoods Apartments offers residents convenient access to major transportation corridors, employment centers, retail destinations and recreational amenities throughout the Inland Empire.
The community is served by highly rated local schools, including Moreno Elementary School, Serrano Middle School, and Upland High School.
As one of the Inland Empire's most established multifamily markets, Upland continues to benefit from strong regional connectivity, a diverse employment base and sustained renter demand, positioning Northwoods Apartments for long-term success.
Northmarq is a privately held commercial real estate firm, combining a nationwide presence with deep local expertise. It has more than 50 offices across the country, providing a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types.
