Arranges $14 million refinancing for the Holiday Inn Express - Old Town in San Diego, California
Holiday Inn Express
SAN DIEGO, CA (October 15, 2013) – Doug Austin, senior vice president and senior director of NorthMarq’s San Diego regional office secured refinancing of $14 million for the Holiday Inn Express—Old Town, located at 1955 San Diego Avenue, San Diego, California. Financing for this 124 unit property was based on a 10-year fixed loan term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower, Best Rest Motel, Inc., through its relationship with a CMBS lender.
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.
