Office - Debt

NorthMarq’s Joe Giordani arranges acquisition financing of $10.5 million for 2888 Loker Avenue in Carlsbad, California

LOS ANGELES, CALIFORNIA (May 8, 2019) – Joe Giordani, senior vice president/senior director of NorthMarq’s Los Angeles-based regional office arranged acquisition financing of $10.5 million for 2888 Loker Avenue, an 80,659 sq. ft. office property located at 2888 Loker Avenue East in Carlsbad, California. The transaction was structured with a 25-year fully amortizing loan. NorthMarq arranged financing for the borrower, Carlsbad Office Tech Center, LLC through its correspondent relationship with a life insurance company. Built in 2007, the property features modern architectural finishes and efficient design. The 99 existing suites surround a lush tropical outdoor atrium with outdoor covered walkways and exterior suite entrances. 

“This office property was a perfect addition to the sponsor’s portfolio and the attractive interest rate we were able to achieve made the investment all that more attractive,” said Giordani. 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.