May 20, 2013

NorthMarq Capital arranged $11.85 million mortgage for Simi Valley Promenade in Simi Valley, California

Simi Valley Promenade

Debt & Equity

Multi-Tenant

LOS ANGELES (May 20, 2013) – David Blum, vice president of NorthMarq’s Los Angeles regional office, arranged first mortgage refinancing of $11.85 million for Simi Valley Promenade, a 82,333 sq. ft. retail center located at 5105-5197 E. Los Angeles Avenue in Simi Valley, California. Albertson’s grocery store is the major tenant at the site. Financing was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a CMBS lender. “This transaction, which included $2 million cash-out, was challenging to navigate with moving parts in the corporate restructuring of Albertsons as the anchor tenant,” said Blum.”

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.