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.
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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.