NorthMarq Capital’s San Diego office arranges financing for a class “A” office building located in La Jolla, California

Class “A” Office Building
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SAN DIEGO (November 5, 2015) – Michael Dobbins, senior vice president of NorthMarq Capital’s San Diego office arranged the $19.95 million refinance of class “A” office property consisting of 61,547 sq. ft. located in La Jolla, California. The transaction was structured with a 10-year term with 3-years interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a CMBS lender. “The financing enabled the borrower to reduce the rate on their existing debt by almost 100 basis points for ten years,” explained Dobbins. “Although the market was turbulent, the lender provided the borrower with very aggressive pricing.”

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.

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