NorthMarq Capital’s Los Angeles based office secures $38 million refinance of Lakewood Marketplace in Lakewood, California
Lakewood Marketplace
NE WPORT BEACH (January 6, 2015) – David R. Blum, senior vice president/senior director and Michael T. Elmore, executive vice president/managing director of NorthMarq Capital’s Los Angeles office arranged the $38.2 million refinance of Lakewood marketplace, a 215,574 sq.ft. retail property located on Woodruff Avenue and South Street in Lakewood, California. The exposed location covers four corners of a major intersection in the city. The transaction was structured with a 10-year interest-only term with cash-out to the borrower. NorthMarq arranged financing for the borrower through its relationship with a CMBS lender. Fresh & Easy, Vons/Pavilions and Sears represent the property’s major tenants.
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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.
