Retail - Debt

NorthMarq Capital

La Verne Shopping Center receives $4.4 million refinance from NorthMarq Capital’s Los Angeles office

LOS ANGELES (September 1, 2015) – Michael Elmore, executive vice president/managing director and Ory Schwartz, senior vice president/managing director of NorthMarq Capital’s Los Angeles based regional office arranged the $4.4 million refinance of a shopping center located at 1400, 1410 and 1480 Foothill Boulevard in La Verne, California. The transaction was structured with a 13-year term and 30-year amortization schedule and featured a 4.46% fixed rate for 10-years with a floating tail. NorthMarq arranged financing for the borrower through its relationship with a national bank. RiteAid, AutoZone and Carl’s Jr. represent the property’s major tenants.

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.