NorthMarq Capital’s San Francisco office arranges acquisition financing of $20.5 million for 80,022 sq. ft. medical office building
Medical Office Building
SAN FRANCISCO (November 15, 2015) – Dennis Williams, senior vice president/managing director of NorthMarq Capital’s San Francisco office arranged acquisition financing of $20.5 million for a 80,022 sq. ft. medical office building located at 3838 California Street in San Francisco, California. The transaction was structured with a 10-year term with a two-year interest only period and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. “The loan financed a unique opportunity to acquire a 100% leased medical office building in Presidio Heights, an affluent and desirable neighborhood in San Francisco. The borrowers plan to increase property cash flow by increasing rents to market as leases expire and completing on-site improvements that will modernize the property and extend its functional operating life,” said Williams.
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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.
