LOS ANGELES (June 9, 2017) David Blum, senior vice president/senior director of NorthMarq Capital’s Los Angeles regional office, arranged refinancing of $4,387,000 for a 11,664 sq. ft. retail property located in Pasadena, California. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through a CMBS lender.
“We were able to close the loan with 25 percent of the tenants still not open for business yet,” said Blum.