Retail - Debt

NorthMarq's San Diego office finalizes $38 million refinance of a retail project in Chula Vista, California

SAN DIEGO (February 23, 2017) – Mike Dobbins, senior vice president of NorthMarq Capital’s San Diego-based regional office, arranged the $38 million refinance of a 374,645 sq. ft. retail property located in Chula Vista, California. The transaction was structured with a 15-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. “The non-recourse loan included a future funding provision and also provided equity back to the borrower for future acquisitions,” said Dobbins.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.