Northmarq completes $4.6 million refinance of multi-tenant office building in San Diego, California

Multi-Tenant Office Building
Debt & Equity
Multi-Tenant
Office
Permanent Loan - Fixed
Life Company
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SAN DIEGO, CALIFORNIA (September 22, 2022) – Eric Flyckt, managing director, and Casey Allred, vice president, of Northmarq’s San Diego office, arranged a $4.6 million refinance of a multi-tenant office building located in San Diego, California. An insurance company funded the 10-year, fixed-rate, non-recourse loan which is amortized over 30 years. The loan provided excess cash for capital improvements and a declining, fixed percentage, prepayment structure during the last three years.

“Northmarq’s correspondent insurance company provided fast and efficient service throughout the entire transaction from loan quote, locking the rate with a two-page term sheet, approval and closing. The borrower was very pleased with the process and attractive loan terms,” said Flyckt.

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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.
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