Northmarq’s San Diego office secures $6.59 million self-storage acquisition loan in Stockton, CA
Mariner's Drive Self Storage
SAN DIEGO (July 15, 2024) — Northmarq’s San Diego team of Wyatt Campbell, Aaron Beck, Conor Freeman and Bryce Quezada secured a $6.59 million loan for the acquisition of a 523-unit self-storage facility in Stockton, California. The loan was arranged for the borrower through Northmarq’s relationship with an insurance company. The fixed rate loan was structured with a 3-year term and partial interest-only payments.
“The lender provided a non-recourse loan that was priced in the mid 7%’s,” said Campbell. “Another great value add acquisition for one of our strong repeat clients — thank you to everyone involved.”
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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.
