NorthMarq Capital arranges $2.5 million refinance of retail property located in Los Angeles, California
LOS ANGELES (August 25, 2016) – David Blum, senior vice president/senior director of NorthMarq Capital’s Los Angeles-based regional office arranged the $2.5 million refinance of Broadmark, a 14,331 sq. ft. retail property located at 3031 North Broadway in Los Angeles, California. The transaction was structured with a 20-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. AutoZone represents the property’s major tenant. “The transaction featured a significant cash-out at approximately four percent,” said Blum.
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