NorthMarq Capital’s San Diego office closes $14 million refinance for Living Spaces in San Diego, California
SAN DIEGO (August 10, 2017) Mike Dobbins, senior vice president of NorthMarq Capital’s San Diego regional office, negotiated acquisition financing of $14,000,000 for a 122,345 sq. ft. retail property located in San Diego, California. The building is occupied by Living Spaces. The transaction was structured with a 20-year term and a 20-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a correspondent life company. “The financing enabled the borrower to acquire this desirable retail building, which is contiguous to their existing shopping center, and provide continuity of management and a long-term strategy for the center,” said Dobbins.
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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 an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
