Medical Office - Debt

NorthMarq Capital

NorthMarq Capital secures $6.4 million refinance of medical office property in Riverton, Utah

SAN DIEGO (November 12, 2018) – Aaron Beck, vice president of NorthMarq Capital’s San Diego regional office, arranged the $6.4 million refinance of a medical office property located in Riverton, Utah. NorthMarq arranged financing for the borrower through its relationship with a CMBS lender. The project is well located near regional medical facilities and benefits from its close proximity to major retailers and regional thoroughfares.

“The purpose of the refinance was to take out the existing construction loan,” said Beck. “The lender was able to accommodate a 70%+ loan-to-value, which returned nearly all of the Borrowers’ equity. The loan was structured with a 30-year amortization and a low fixed interest rate.” 

 

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.