NorthMarq Capital’s San Diego office secures $12 million in acquisition financing for Bonita Point Plaza
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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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.
