Northmarq’s Los Angeles office arranges $6.9 million acquisition loan for grocery-anchored shopping center
Knollwood Plaza
LOS ANGELES (Dec. 11, 2023) — Ory Schwartz, senior vice president and managing director of Northmarq’s Los Angeles Debt + Equity team, has secured a $6.9 million acquisition loan for a 23,922-sq.-ft. multi-tenant retail property in Granada Hills, California. The grocery-anchored shopping center, Knollwood Plaza, was built in 1974 and features an array of tenants with triple net leases including Starbucks, The UPS Store and Massage Envy. Northmarq arranged financing on behalf of the borrower through a relationship with a credit union with maximum prepayment flexibility. The transaction was structured on a 10-year term with a 30-year amortization schedule.
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.
