Retail

NorthMarq Capital arranges $42 million loan for a 304,801 sq.ft. power center in San Marcos, California

LOS ANGELES (October 27, 2015) – Ory Schwartz, senior vice president/managing director of NorthMarq Capital’s Los Angeles regional office negotiated the $42 million refinance of Nordahl Marketplace, a 304,801 sq.ft. retail property located at 708-775 Center Drive and 729 Nordahl Road in San Marcos, California. The transaction was structured with a fully amortizing 25-year term. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. The property is home to over 25 retailers, including Walmart, Kohl’s, Guitar Center and Starbucks.

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through its 36 offices across the U.S. The company has built long-term relationships with life companies, CMBS platforms and local, regional and national banks, with a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. The company closes approximately $13 billion in commercial real estate loans annually and services a loan portfolio of more than $50 billion. For more information please visit www.northmarq.com.