LOS ANGELES (March 2, 2015) – Mark Dodson, vice president of NorthMarq Capital’s Los Angeles-based regional office, secured $6 million in refinancing for a 66-unit Holiday Inn Express located in Bishop, California. The cash-out proceeds transaction for the property, located in a tertiary market, was structured with a fully-amortizing 25-year term. NorthMarq arranged financing for the borrower through its relationship with a correspondent life insurance company. “Our life company correspondent was very comfortable with the location and excellent management history of the property,” said Dodson. “Although life companies do not often provide cash-out proceeds in tertiary markets, the low leverage on the loan and the fact that the borrower was seeking fully-amortizing terms satisfied both sides.”
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.