Northmarq arranges $21.2M acquisition financing for Camino Vida Roble Industrial
CARLSBAD, Calif. — Northmarq’s Scott Botsford and Joe Giordani of the Newport Beach Debt + Equity team secured a $21.2 million acquisition financing deal for Camino Vida Roble Industrial, a 106,000-sq.-ft. industrial building located at 2270 Camino Vida Roble in Carlsbad, California.
Northmarq arranged the financing on behalf of the borrower, MCA Realty, a full-service real estate investment and management company based in Orange County, California. MCA Realty specializes in industrial properties throughout the Western U.S.
The $21.2 million acquisition loan, which covers up to 69% LTV, includes future funding for tenant improvements, capex, and leasing commissions. The team also secured flexible prepayment structure and releases provisions, should the borrower choose to execute an alternative business plan.
“It was a pleasure to work on this transaction — great sponsor, great real estate,” Botsford said. “We created a competitive market around the financing opportunity, received multiple lenders bid, and provided great execution. Transactions are especially rewarding when we know we’ve delivered strong results for our client.”
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