NorthMarq Capital finds $6.5 million acquisition financing solution for seller with 30-day close of Huntington Beach office property

Huntington Marina
LOS ANGELES (August 26, 2015) – Joe Giordani, vice president of NorthMarq Capital’s Los Angeles regional office arranged acquisition financing of $6.5 million for Huntington Marina, a 45,597 sq.ft. office property located at 4952 Warner Avenue in Huntington Beach, California. The non-recourse (87% loan-to-purchase) loan featured a 30-day close and was structured with a 2-year interest only term. The properties tenants include several small “mom & pop” tenants. “This was a very interesting acquisition for a great piece of real estate with significant value-add potential,” said Giordani. “Occupancy was running about 80% with a majority of the "mom & pop" tenants on month-to-month leases. The buyers plan to clean up and extend the leases, complete external and internal renovations, as well as bring in some retail tenants on the ground floor (it is already zoned for retail). The challenge, we had to close the loan in 30 days due to a difficult seller and there was limited property information due to it being poorly managed for over a decade. However, this bridge lender understood the value-add business plan, saw the value creation potential, and stretched to get the deal. They offered the highest loan proceeds and the best interest rate on a non-recourse basis. Additionally, due to the NorthMarq relationship, they pushed their staff extremely hard to perform and close within the 30 day timeline.”

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:

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