Office - Debt


NorthMarq’s San Diego office arranges $6.8 million refinance of multi-tenant office property in Temecula, California

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.” 

 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.