NorthMarq arranges $5 million refinance of office property located in Pomona, California

981 Pomona Corporate
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NEWPORT BEACH, CALIFORNIA (January 8, 2020) – Joe Giordani, senior vice president/senior director of NorthMarq’s Newport Beach-based regional office secured the $5 million refinance of 981 Pomona Corporate, a 52,974 sq. ft. office property located at 971-975 & 981 Corporate Drive in Pomona, California. 

“The sponsor was looking to take advantage of historically low interest rates while pulling out some equity in order to reinvest in other assets,” said Giordani. “We strategically locked rate early and timed the prepayment penalty in order to minimize his prepayment costs.”

Financing Details:
- 10+10+5-year term
- 25-year amortization schedule
- NorthMarq arrange the permanent-fixed loan for the borrower through its correspondent relationship with Stancorp Mortgage Investors, a life insurance company. 

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.