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.” 

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.