NorthMarq arranges $14 million financing for 4S Medical Office Building in San Diego, California

Medical Office Building
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SAN DIEGO (September 18, 2019) – Eric Flyckt, senior vice president and Wyatt Campbell, vice president of NorthMarq’s San Diego office, secured a $14 million financing for a multi-tenant medical office building located in San Diego, California. The 12-year fixed-rate loan was structured with a 30-year amortization. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. NorthMarq will service the loan.

Built in 2012, the building is comprised of 39,991 square feet and 100 percent occupied by 11 tenants. 

“This was a high loan per square foot for an insurance company at $350 psf. However, we were able to get the lender comfortable by providing supporting market data,” said Flyckt. “It was a typical life company execution – the rate was locked at application and closed as quoted with no surprises. It is a great loan for both the borrower and the lender.”

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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.
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