Office
Debt & Equity

NorthMarq Capital’s San Diego office secures $57.12 million construction financing for Watermark II in San Diego, California

SAN DIEGO (January 24, 2018) – Mike Dobbins, senior vice president of NorthMarq Capital’s San Diego office, arranged a $57,120,000 construction loan for Watermark II, a Class-A office building comprising 158,000 sq. ft. located in San Diego, California. The loan was structured with a 5-year term, the first three of which are interest-only followed by a 25-year amortization schedule. NorthMarq arranged the financing through its relationship with a regional bank. “The lender is a local regional bank and provided the most competitive terms. The borrower is an owner-user which previously developed a neighboring Class-A office building they also occupy,” noted Dobbins.

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.

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Watermark II
Construction Loan
$57,120,000