NorthMarq arranges $5 million refinance of office property located in Pomona, California

981 Pomona Corporate
Debt & Equity
Multi-Tenant
Office
Permanent Loan - Fixed
Life Company
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NEWPORT BEACH, CALIFORNIA (January 8, 2020) – Joe Giordani, senior vice president/senior director of NorthMarq’s Newport Beach-based regional office secured the $5 million refinance of 981 Pomona Corporate, a 52,974 sq. ft. office property located at 971-975 & 981 Corporate Drive in Pomona, California. 

“The sponsor was looking to take advantage of historically low interest rates while pulling out some equity in order to reinvest in other assets,” said Giordani. “We strategically locked rate early and timed the prepayment penalty in order to minimize his prepayment costs.”

Financing Details:
- 10+10+5-year term
- 25-year amortization schedule
- NorthMarq arrange the permanent-fixed loan for the borrower through its correspondent relationship with Stancorp Mortgage Investors, a life insurance company. 

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About Northmarq 
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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