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.