NorthMarq arranges acquisition financing of $6.8 million for office property in Tustin, California
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
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.
