NorthMarq arranges $14 million financing for 4S Medical Office Building in San Diego, California

Medical Office Building
cfdc886c-c5a1-43b9-8ef0-c2c96e53c064.jpg

SAN DIEGO (September 18, 2019) – Eric Flyckt, senior vice president and Wyatt Campbell, vice president of NorthMarq’s San Diego office, secured a $14 million financing for a multi-tenant medical office building located in San Diego, California. The 12-year fixed-rate loan was structured with a 30-year amortization. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. NorthMarq will service the loan.

Built in 2012, the building is comprised of 39,991 square feet and 100 percent occupied by 11 tenants. 

“This was a high loan per square foot for an insurance company at $350 psf. However, we were able to get the lender comfortable by providing supporting market data,” said Flyckt. “It was a typical life company execution – the rate was locked at application and closed as quoted with no surprises. It is a great loan for both the borrower and the lender.”

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.