NorthMarq Capital’s Los Angeles office arranges $4.5 million refinance of Federal Way Buildings
Federal Way Buildings
LOS ANGELES (May 9, 2018) – David Blum, senior vice president/senior director of NorthMarq Capital’s Los Angeles regional office, negotiated the $4.5 million refinance of Federal Way Buildings, 11,710 sq. ft. of office properties located at 2216 and 2223 Federal Avenue in Los Angeles, California. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. “NorthMarq was able to get our correspondent life company comfortable enough to offer a long-term fixed rate loan for two currently vacant buildings, partially pre-leased and currently being fully renovated for creative office space,” explained Blum.
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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.
