NorthMarq Capital finalizes $26 million refinance of Cal Oaks Plaza in Murrieta, California
Cal Oaks Plaza
LOS ANGELES (January 5, 2016) – Michael Elmore, executive vice president/managing director and David Blum, senior vice president/senior director of NorthMarq Capital’s Los Angeles based regional office secured the $26 million refinance of Cal Oaks Plaza, a 176,170 sq.ft. retail property located at 40930-41090 California Oaks Road in Murrieta, California. The fixed-rate transaction was structured with a fully amortizing 25-year term with minimal impounds. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. Albertson’s, Reading Theatre, Chili’s and Target (shadow anchor) represent the property’s major tenants.
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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.
