NorthMarq Capital’s San Diego office arranges $14.7 million in acquisition financing for office building in La Jolla, California

Office Building
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SAN DIEGO (January 5, 2017) – Steve Hollister, senior vice president of NorthMarq Capital’s San Diego-based regional office, arranged acquisition financing of $14.7 million for a 54,291 sq. ft. office building located in La Jolla, California. The transaction was structured with a 10-year term, with three years of interest-only payments, followed by a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. “The lender is a premier correspondent life insurance company represented by NorthMarq Capital,” said Hollister. “They provided the best rate and three years of interest only. Transaction terms were 60 percent LTP ($271 psf), 3.44 percent, fixed for 10-years and non-recourse.”

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.

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