NorthMarq Capital arranges $10 million refinance of Fairway Business Center in Rancho Cucamonga, California

Fairway Business Center
LOS ANGELES (December 2, 2014) – Michael T. Elmore, executive vice president/managing director of NorthMarq Capital’s Los Angeles based regional office arranged the $10 million refinance of Fairway Business Center, a 87,923 sq.ft. office building located at 9130 & 9166 Anaheim Place in Rancho Cucamonga, California. The transaction was structured with a 10-year term with 3-years interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through a conduit CMBS lender. “This multi-tenant office building has an uneven rollover which required impounding, but the client wanted to maintain cash flow,” said Elmore. “The lender was able to provide a full leverage senior loan and prefund the entire impound and give three years interest only, which significantly boosted the monthly cash flow distribution to the owner. Bancorp was able to lock within 5 bp of the floor rate in a volatile market in which spreads gapped out 15-20 bp.”

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, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit

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