Northmarq arranges $31.5M acquisition loan for multi-tenant office building in Los Angeles

PacMutual
Debt & Equity
Multi-Tenant
Office
Debt
Debt & Equity
Life Company
General
multi-tenant general office space

LOS ANGELES — Charlie Fischer of Northmarq’s Los Angeles Debt + Equity team secured $31.525 million in acquisition financing for PacMutual, a multi-tenant general office space located at 523 W. 6th St. in Los Angeles. Built in 1923, the property features 443,879 square feet.

Northmarq arranged financing on behalf of the borrower through a correspondent life insurance company.

“This was a very unique transaction given the property was over 50% vacant at close,” Fischer said. “The lender saw the upside and potential in this deal and that made for a very smooth transaction.”

The PacMutual property is a local landmark and a designated City of Los Angeles Historic-Cultural Monument. The building offers tenants a fitness center, conference center, indoor valet and self-parking and more. 

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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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