NorthMarq completes $20 million refinance of Foothill Rosemead Marketplace in North Pasadena, California

Foothill Rosemead Marketplace
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NEWPORT BEACH, CALIFORNIA (January 8, 2020) – Joe Giordani, senior vice president/managing director of NorthMarq’s Newport Beach-based regional office finalized the $20 million refinance of Foothill Rosemead Marketplace. The 110,444 sq. ft. retail property is located at 3571 & 3677 East Foot Boulevard 255 and 305 North Rosemead Boulevard in North Pasadena (Los Angeles County), California.

“This was an early refinance with an existing lender. It featured significant cash-out and a significantly lower interest rate,” said Giordani. “NorthMarq was able to negotiate with the lender to have them waive the early prepayment penalty and blend it into the new 20-year fixed rate loan.”

Financing Details:
- 20-year term
- 20-year amortization schedule
- NorthMarq arrange the permanent-fixed loan for the borrower through its correspondent relationship with PPM, a life insurance company. 

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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.
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