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