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