Northmarq arranges $23 million financing for Lowe’s-anchored retail center in San Diego, California

Anchored Retail Center

SAN DIEGO (November 2, 2021) – Eric Flyckt, Managing Director, and Casey Allred, Vice President, of Northmarq’s San Diego office, arranged a $23.0 million refinance of a Lowe’s-anchored retail center located in San Diego, CA. An insurance company funded the 12-year, fixed-rate, loan with the first year being interest-only followed by a 30-year amortization schedule. The loan was structured with a fixed step-down prepayment schedule during the last three loan years. The rate was locked five-months prior to funding at under 3.5%.

The property is situated in a strong location and was 100% leased to a solid and diverse tenant mix at closing. The property is on a ground lease which resulted in many lenders not having an interest in providing the financing.

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 an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 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

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