NorthMarq Capital arranges $12 million acquisition financing of Bayside Square office buildings in Corona Del Mar, California
Bayside Drive Office Buildings
LOS ANGELES (December 10, 2015) – David R. Blum, senior vice president/senior director of NorthMarq Capital Los Angeles regional office and Nathan Prouty, senior director of NorthMarq Capital’s San Francisco regional office collaborated to arrange bridge acquisition financing of $12 million for two office buildings totaling 34,979 sq. ft. located at 1101-1111 Bayside Drive in Corona Del Mar, California. The transaction was structured for an initial term of four years plus two one-year extension options. NorthMarq arranged financing for the borrower through a debt fund. “This bridge acquisition loan will enable the borrower to re-position the subject property and execute their business plan,” explained Blum.
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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.
