NorthMarq Capital arranges $7.5 million refinancing for Fullerton University Shopping Center in Fullerton, California
Fullerton University Shopping Center
LOS ANGELES (December 19, 2013) – Robert R. Hervey, executive vice president/senior managing director of NorthMarq’s Los Angeles regional office arranged refinancing of $7.5 million for the Fullerton University Shopping Center, a 162,832 sq.ft. retail property located at 1631-1725 Placentia Avenue and 2910-2988 East Yorba Linda Boulevard, Fullerton, Calif. The transaction was structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower, Fullerton University Shopping Center, L.L.C. through its relationship with the CMFG Life Insurance Company. Major tenants at the plaza include Target and Payless Shoes. The anchor tenant is in their option periods and there is ongoing environmental remediation at the site. “The lender was able to get their arms around the issues and provide a strong quote to win the business,” said Hervey. “It was helpful to have a great occupancy history on this well located shopping center.”
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.
