Retail

NorthMarq Capital’s Los Angeles office arranges $4,387,000 refinance for retail property in Pasadena, California

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.

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.