Northmarq secures $5.67 million acquisition financing for Johns Hopkins Medical Office Building in Baltimore, Maryland
SAN DIEGO (March 20, 2022) – Wyatt Campbell, vice president, and Eric Flyckt, managing director, of Northmarq’s San Diego office, secured a $5.67 million acquisition loan for a medical/research office building located in Baltimore, Maryland. The four-story, 31,752 sq. ft., building is 100 percent occupied by Johns Hopkins University. Northmarq arranged the financing for the borrower through its relationship with a CMBS lender. The building is situated within walking distance to Johns Hopkins University Hospital.
The 10-year loan was structured with full-term interest-only payments at a rate slightly above 4.5 percent. The loan represented a 65 percent loan-to-purchase-price. NorthMarq will service the loan.
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