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.” 

 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of $13 billion, loan servicing portfolio of more than $55 billion and the multi-year tenure of our more than 500 people.