Retail - Debt, Equity

NorthMarq's San Diego office arranges $44.544 million in financing via construction loan and preferred equity for Millenia Town Center in Chula Vista

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.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.