Office - Debt

NorthMarq Capital arranged $7 million mortgage for Brentwood on Wilshire in Los Angeles, California

LOS ANGELES (January 30, 2013) – Robert Hervey, executive vice president and managing director of NorthMarq’s Los Angeles regional office, arranged first mortgage refinancing of $7 million for Brentwood on Wilshire, a 27,208 sq. ft. office building located at 11925 Wilshire Boulevard in Los Angeles, California. CML is the major tenant at the site. Financing was based on a 5-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a CMBS lender. “The borrowing entity is a syndication of many owners with no “major” principal. The lender created a structure to assure that the entity had adequate liquidity during the term of the loan,” said Hervey. “The lender was creative and willing to work around a difficult borrower structure. The borrower/manager worked with the lender to find a solution that suited everyone.”

Northmarq is an industry-leading capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with an open, flexible structure, enabling our team of seasoned professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of over $30 billion, and loan servicing of nearly $70 billion.