NorthMarq Capital arranges $7.15 million acquisition for Knollwood Plaza in Granada Hills, California
Knollwood Plaza
LOS ANGELES (December 19, 2013) – David R. Blum, senior vice president/senior director and Ory Schwartz, senior vice president/managing director of NorthMarq’s Los Angeles arranged acquisition financing of $7.15 million for Knollwood Plaza, a 23,922 sq.ft. retail center located at 11846-11862 Balboa Boulevard, Granada Hills, California. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a CMBS lender. Unique aspects of the transaction include: Fresh & Easy shadow anchor, an 8.0% debt yield and a high loan per square foot. Major tenants of the retail center are Starbucks, Curves and State Farm Insurance.
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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.
