September 18, 2015

NorthMarq Capital facilitates refinancing of $6 million for Genesis Plaza in San Diego, California

Genesis Plaza

Debt & Equity

Multi-Tenant

SAN DIEGO (September 18, 2015) – Doug Austin, senior vice president/senior director of NorthMarq Capital’s San Diego office negotiated the $6 million cash-out refinance of Genesis Plaza, a 57,803 sq. ft. office property located in San Diego, California. The loan was structured with a 10-year fixed interest rate, with 3-years interest-only payments, followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a CMBS lender. “The lender structured the loan so as to address the current 78% occupancy and substantial near-term rollover,” said Austin.

Available Office properties

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 an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.