NorthMarq Capital secures $9.6 million refinance of Lakeview Terrace Center in Lakeview Terrace, California
LOS ANGELES (August 3, 2015) – David R. Blum, senior vice president/senior director and Ory Schwartz, senior vice president/managing director of NorthMarq Capital’s Los Angeles based regional office arranged the $9.6 million refinance of Lakeview Terrace Center, a 78,634 sq.ft. retail property located at 11912-11998 Foothill Boulevard, in Lakeview Terrace, California. NorthMarq arranged the cash-out loan for this non-stabilized, unanchored, secondary market property through its relationship with a CMBS lender. The transaction was structured with 10-year term with 1.5 years interest only followed by a 30-year amortization schedule. The largest tenant is a local grocer called Lakeview Farmers Market that has a short term remaining on its lease.
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