Retail - Debt

NorthMarq Capital

NorthMarq Capital’s San Diego office arranges acquisition financing of $13,439,000 for Walgreens portfolio

SAN DIEGO (May 15, 2018) – Steve Hollister, senior vice president of NorthMarq Capital’s San Diego regional office, arranged acquisition financing of $13.439 million for a portfolio of three Walgreens properties each containing 14,820 sq. ft. The assets are located in Texas and Ohio. The transaction was structured with a 5-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a credit union. “The lender provided a loan at 70 percent of the purchase price on the acquisition of three free standing Walgreens at a competitive fixed rate for five years,” said Hollister. “A key component to the loan structure was that the fixed rate loan could be prepaid at any time with no lockout period or prepayment penalty. Timing and reliable execution along with the fixed rate and no prepayment penalty were important to the borrower on the acquisition. The lender executed as promised.”

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.