NorthMarq Capital arranged $9.5 million mortgage for Four Points by Sheraton in San Diego, California
Four Points by Sheraton
SAN DIEGO (August 21, 2013) – Doug Austin, vice president of NorthMarq ‘s San Diego regional office, arranged first mortgage refinancing of $9.5 million for Four Points by Sheraton located at 8110 Aero Drive in San Diego, California. This asset is a 225-room full-service hotel with convention facilities and is situated on a 19.27 acre 40-year ground lease. The City of San Diego owns the land. Financing was based on a 10-year term and a 27-year amortization schedule and was arranged for the borrower by NorthMarq through its relationship with a CMBS lender.
About Northmarq
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.
