NorthMarq arranges acquisition financing of $6.8 million for office property in Tustin, California
Create Tustin
LOS ANGELES, CALIFORNIA (November 20, 2019) – Michael T. Elmore, executive vice president/managing director of NorthMarq’s Los Angeles office secured $6.8 million in acquisition financing for Create Tustin. The office property is located at 2642 Michelle Drive in Tustin, California.
Financing Details:
- 10-year term (with 3-years of interest-only)
- 30-year amortization schedule
- NorthMarq arranged the permanent-fixed loan for the borrower through its relationship with a Chase, national bank.
Property Details:
- The property contains 50,832 sq. ft.
Producer Quote:
“Chase successfully closed a three TIC purchase money transaction for a repeat borrower who wanted to utilize their existing bank relationship.”
- Michael Elmore
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.
