Medical Office - Debt

NorthMarq Capital’s Los Angeles office arranges $1.85 million refinance of retail and medical office in Los Angeles, California

LOS ANGELES (April 29, 2016) – David Blum, senior vice president/senior director of NorthMarq Capital’s Los Angeles-based regional office, arranged the $1.85 million refinance of 24th and Vermont, a 5,945 sq. ft. retail and medical office property located at 2401-2407 South Vermont Avenue in Los Angeles, California. The transaction was structured with a 10-year term and 27-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.

“The lender’s terms include an option to extend the loan term an additional 10 years,” added Blum.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.