NorthMarq Capital’s Los Angeles office arranges $6 million refinance of single-tenant Alamo in Newport Beach, California
LOS ANGELES (November 23, 2016) – David Blum, senior vice president/senior director of NorthMarq Capital’s Los Angeles-based regional office arranged the $6 million refinance of Alamo, a 116,000 sq. ft. car rental location advantageously located adjacent to the Orange County Airport. The transaction was structured with a fully amortizing 25-year term. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.