NorthMarq Capital’s San Diego office secures $12 million in acquisition financing for Bonita Point Plaza
SAN DIEGO – (November 3, 2014) Michael Dobbins, senior vice president of NorthMarq Capital’s San Diego based regional office arranged acquisition financing of $12 million for Bonita Point Plaza, a 58,761 sq.ft. retail property located in Chula Vista, California. The transaction was structured with a fully amortizing 20-year loan. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. Ralph’s and Rite Aid represent the property’s major tenants. “The lender won the business by offering a competitive rate on a fully amortizing 20-year loan and by providing the borrower with maximum prepayment flexibility,” said Dobbins.
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