Medical Office - Debt

NorthMarq Capital’s Los Angeles office arranges bridge financing of $8.44 million for the acquisition of Harbor Medical in Fullerton, California

LOS ANGELES (April 29, 2016) – Robert R. Hervey, executive vice president/senior managing director of NorthMarq Capital’s Los Angeles-based regional office arranged acquisition financing of $8.44 million for Harbor Medical, a 30,687 sq. ft. medical office property located at 2720 North Harbor Boulevard in Fullerton, California. The transaction was structured with a 3-year term with 2–years interest only and 30-year amortization schedule. The transaction required the lender to understand major near-term tenant roll-over and to close quickly.

“The borrower is very experienced the acquisition and refurbishment of similar properties,” noted Hervey. “The lender moved quickly to understand the market and approve the business plan that will make this repositioning successful.”

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $16 billion, loan servicing portfolio of more than $65 billion and the multi-year tenure of our nearly 600 people.