February 13, 2013

NorthMarq Capital arranged $3 million mortgage for Harbor Terrace assisted living facility in Los Angeles, California

Assisted Living Facility

Debt & Equity

Multi-Tenant

SAN DIEGO (February 13, 2013) – Steve Hollister, vice president of NorthMarq ‘s San Diego Regional office, arranged first mortgage refinancing of $3 million for Harbor Terrace, a 30,960 sq. ft., 90-unit assisted living facility located at 435 West 8th Street in Los Angeles, California. Financing was based on an 18-year term and an 18-year amortization schedule and was arranged for the borrower, IF Harbor Terrace Property LP, by NorthMarq through its relationship with a correspondent life company lender. “This transaction is the refinancing of an existing loan,” said Hollister. “The lender performed exactly as advertised. It was a very smooth process from start to finish.”

Available Senior / Assisted Living properties

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 and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.