NorthMarq Capital completes $31.5 million refinance of retail property in San Diego, California
SAN DIEGO (September 25, 2017) – Mike Dobbins, senior vice president of NorthMarq Capital’s San Diego regional office, negotiated $31.5 million in refinancing for Rio Vista Station, a 144,022 sq. ft. retail property located in San Diego, California. The transaction was structured with a fully amortizing 20-year term. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. Major tenants include TJ Maxx, Home Goods, Wendy’s and Living Spaces. “This loan was a refinance of an existing loan with the same correspondent life company,” noted Dobbins. “Both the borrower and the lender have a strong relationship and the lender offered the borrower very favorable terms.”
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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.
