NorthMarq Capital’s San Diego office arranges $8.5 million bridge loan for Los Robles Medical Campus in Thousand Oaks, California
SAN DIEGO (August 17, 2018) – Doug Austin, senior vice president of NorthMarq Capital’s San Diego regional office, arranged an $8.5 million bridge loan for the acquisition of Los Robles Medical Campus in Thousand Oaks, California. The campus comprises six buildings totaling 43,828 sq. ft. The transaction was structured with a 3-year term, interest-only payments, and additional funds available for capital improvements, leasing commissions and tenant improvements. NorthMarq arranged the financing through its long-standing relationship with a CMBS lender. NorthMarq will service the loan.
“The lender won the business by having competitive terms, followed through with a seamless underwriting, and a flexible closing process to meet the acquisition date. The borrower commented that the loan matched all of his needs including the additional funds for future capital improvements, leasing commissions and tenant improvements,” said Austin.
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: www.northmarq.com.
