NorthMarq’s San Diego office arranges $6.8 million refinance of multi-tenant office property in Temecula, California
Deportola Professional Buildings
SAN DIEGO, CALIFORNIA (February 7, 2020) – Conor Freeman, vice president of NorthMarq’s San Diego office, arranged $6.8 million in financing for the Deportola Professional Buildings, a 37,621 sf office property located in Temecula, California. The permanent loan was structured with a 10-year term on a 30-year amortization schedule and offered a sub 3.50 percent fixed interest rate. NorthMarq arranged financing for the borrower through its relationship with a correspondent life company lender.
“The borrower pulled significant equity out of the property while taking advantage of historically low interest rates,” said Freeman. “The life company’s ability to offer non-recourse debt to a complicated borrower structure set them apart.”
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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.
