Office - Debt

NorthMarq Capital arranged $10.25 million mortgage for California Avenue Office Building in Corona, California

LOS ANGELES (January 15, 2013) – Michael Elmore, executive vice president and managing director of NorthMarq’s Los Angeles regional office, arranged first mortgage refinancing of $10.25 million for 1181 California Avenue, a 85,372 sq. ft. office building located in Corona, California. Financing was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a CMBS lender. “The lender accommodated a maturing loan payoff and was able to structure for a major tenant lease maturity during the loan term,” said Elmore. “There was also a substantial return of borrower capital.”

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.