NorthMarq's San Diego office arranges $44.544 million in financing via construction loan and preferred equity for Millenia Town Center in Chula Vista
Millenia Town Center
SAN DIEGO (May 25, 2017) – NorthMarq Capital’s San Diego office arranged $44,544,000 in financing on behalf of Sudberry Properties for Millenia Town Center, a 128,177 sq. ft. retail property that is located at the SEC of Highway 125 and Birch Road in Chula Vista, California. The capital consisted of a construction loan from a bank and preferred equity from a life insurance company for whom NorthMarq is a correspondent. Major tenants on the property will include: Buy Buy Baby, Ross Dress for Less, Homegoods and Cost Plus. “The transaction came together smoothly for the client resulting in a good working relationship between the client, construction lender and preferred equity provider,” noted Eric Flyckt, senior vice president/managing director.
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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.
