Mixed Use - Debt

NorthMarq’s San Diego office secures $8.5 million Fannie Mae financing for mixed-use property

SAN DIEGO, CALIFORNIA (December 6, 2019) – Aaron Beck, vice president, and Eric Flyckt, senior vice president of NorthMarq’s San Diego regional office, arranged a $8.5 million refinance for a mixed-use property located in Reno, Nevada. NorthMarq secured the long-term non-recourse financing for the borrower through its direct relationship with Fannie Mae. The recently redeveloped property is well located in Downtown Reno near dining, centers of employment, and the University of Nevada Reno. 

“This refinance replaced the construction loan and provided a significant return of equity to the borrower,” said Beck. “The loan was structured with full-term interest-only payments and a sub-4.0% fixed interest rate.” 

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.