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.
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.