NorthMarq’s Newport Beach office completes $28 million refinance of Makena Commercentre I in Lakeforest, California
NEWPORT BEACH, CALIFORNIA (June 10, 2021) – Michael Elmore, executive vice president/managing director and Scott Botsford, vice president in NorthMarq’s Newport Beach office arranged the $28 million refinancing of Makena Commercentre I. The 74,314 sq. ft. industrial-flex property is located in Lakeforest, California. The transaction was structured with a 10-year term, 4-years interest only on a 30-year amortization schedule. The transaction also included up to a $7 million earn-out available within the first 4-years. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.
Please contact Scott Botsford, Vice President for more details.
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