Northmarq finalizes $20 million refinance of medical office property located in Beverly Hills central business district

Class A Office Property

Debt & Equity

Multi-Tenant

LOS ANGELES, CALIFORNIA (December 21, 2022) – Ory Schwartz, senior vice president/managing director of Northmarq’s Los Angeles debt/equity team arranged the $20 million refinance of a 126,567 sq. ft. class A office property. Located at 8750 Wilshire Boulevard in Beverly Hills’ central business district, the property was originally built in 1991 and contains 417 parking spaces.

It was originally designed by renowned architectural firm Arquitectonica. The property features curved black granite and a glass exterior wall along with a three-story atrium lobby. The property is strategically located with direct access to the Santa Monica (10) freeway via Robertson Boulevard. It also benefits from its close proximity to the Beverly Hills Triangle, numerous retail and fine dining opportunities, and Cedar’s Sinai Medical Center.

“The property previously housed a mix of media and medical tenants,” said Schwartz. “But in 2020, the city of Beverly Hills lifted their moratorium on new medical office tenants, and the building is now being marketed solely for medical tenants.”

The transaction was structured with a 10-year term on a 30-year amortization schedule. Northmarq secured the permanent-fixed loan for the borrower through its correspondent relationship with a life insurance company.

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About Northmarq

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.