NorthMarq Capital’s Los Angeles office arranges acquisition financing of $33,998,400 for Corporate Pointe in Irvine, California
Corporate Pointe
LOS ANGELES (June 5, 2018) – Joe Giordani, vice president of NorthMarq Capital’s Los Angeles regional office, arranged acquisition financing of $33,998,400 for Corporate Pointe, a 160,499 sq. ft. office property located at 1,3,5,7 & 9 Corporate Park in Irvine, California. The transaction was structured with an initial 2-year interest only term. NorthMarq arranged financing for the borrower through its relationship with a pension fund advisor. “The lender was able to offer tailored terms for a best-in-class sponsor on a value-add deal that had a unique ownership structure, the need for individual releases, and a three-week close,” said Giordani. “Lender bids were extremely tight, and we’re happy NorthMarq was able to offer market-clearing pricing that beat both bank and traditional debt-fund pricing.”
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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.
