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.
Retail - Debt, Equity