Medical Office - Debt

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

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.”

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 more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.