SAN DIEGO (September 22, 2014) – Gardiner Champlin, senior vice president/managing director and Marty Meagher, senior vice president/managing director of NorthMarq Capital’s San Diego based regional office secured the $5 million refinance of Four C Square, a 64,500 square foot mixed-use property located at 428 C Street in San Diego, California. The transaction was structured with a 10-year term with 5-years interest only and 30-year amortization. NorthMarq arranged financing for the borrower through its correspondent relationship with Nationwide Life Insurance Company. The property features 28 residential live/work lofts over ground floor retail, with Ross Dress for Less representing the major tenant. “Through our correspondent relationship with Nationwide Life Insurance Company, NorthMarq provided a low leverage refinance of the subject property to allow the borrower to lock in a very favorable low fixed-rate financing of this asset for the next ten years,” commented Champlin. “Due to the low leverage aspect, Nationwide was able to provide 5-year interest only payments. The borrower was satisfied with the accommodative and attentive service provided by the lender throughout an efficient underwriting and closing process.”
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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of more than $52 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 www.northmarq.com.
