Northmarq’s Los Angeles office arranges $7.5M refinance of grocery-anchored neighborhood center

15423 Amar Rd
grocery-anchored neighborhood retail center

LA PUENTE, Calif. — Karl Weidell of Northmarq’s Los Angeles Debt + Equity team has secured $7.5 million in financing for a 33,893-sq.-ft., grocery-anchored neighborhood center located at 15423-15441 Amar Rd. in La Puente, California.

Northmarq arranged financing on behalf of the borrower, a Beverly Hills-based owner and developer, through a credit union relationship with a national footprint. The transaction was structured on a 5-year term, 12 months of interest-only payments and no prepayment penalty. Loan was at par pricing with a competitive interest rate.

“A credit union provided the lowest cost of capital with absolutely zero penalty in the event that rates drop and a refinance or attractive sale opportunity presents itself,” said Weidell.

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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
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