Northmarq’s Debt + Equity team arranges $63M in financing for 1 & 2 Columbia Place in San Diego

SAN DIEGO — Northmarq’s San Diego Debt + Equity team of Conor Freeman, Aaron Beck and Wyatt Campbell secured the $63 million acquisition loan for 1 & 2 Columbia Place, a pair of Class A office towers totaling 720,332 square feet located in Downtown San Diego.

Northmarq arranged the financing on behalf of the sponsor through its correspondent relationship with a national life insurance company.

“The successful closing of 1 & 2 Columbia highlights renewed appetite from capital sources for well-located office assets with the right sponsorship, despite broader headline narratives,” Freeman said. “Our correspondent life insurance company delivered a 61% loan-to-value execution, paired with a flexible structure that produced an attractive risk-adjusted outcome for all parties. We look forward to seeing the borrower execute on their business plan and unlock 1 & 2 Columbia’s long-term potential.”

1 & 2 Columbia Place comprise two recently renovated Class A office towers in Downtown San Diego’s coveted West Side, offering 720,332 square feet of modern workspace with upgraded lobbies, tenant lounges, spec suites and fitness amenities. The properties feature flexible floorplates, outdoor terraces with city and bay views, immediate access to multiple light‑rail stations, and the vibrant dining and retail of Little Italy. 

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