September 30, 2013

NorthMarq Capital arranges $10 million bridge loan for Ridgeview Plaza in Reno, Nevada

Ridgeview Plaza

Debt & Equity

Multi-Tenant

LOS ANGELES (September 30, 2013) – David Blum and Michael Elmore of NorthMarq’s Los Angeles regional office, and in cooperation with Thomas J. Powell of NorthMarq’s Las Vegas regional office (Nevada License: 48816) arranges bridge loan of $10 million for the refinancing of Ridgeview Plaza, a 90,785 sq. ft. grocery anchored retail center located at 5110-5150 Mae Anne Avenue in Reno, Nevada. Safeway and Kohl’s are major tenants at the site. Financing was based on a 2-year interest-only term with a 1-year extension option. NorthMarq arranged this financing for the borrower through its relationship with a specialty finance REIT. “This transaction was highly challenging due to the Reno market, the anchor tenant lease maturing in January 2014 and the environmental story to navigate,” Blum said.

Available Retail (MT) properties

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.