January 30, 2013

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

Brentwood on Wilshire

Debt & Equity

Multi-Tenant

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.”

Available Office 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.