NorthMarq’s Newport Beach office completes $28 million refinance of Makena Commercentre I in Lakeforest, California
Makena Commercentre I
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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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.
