Retail - Debt

NorthMarq Capital

NorthMarq Capital’s San Diego office arranges $25 million refinance of Palomar Commons in Carlsbad, California

SAN DIEGO – Michael Dobbins, senior vice president of NorthMarq Capital’s San Diego based regional office negotiated the $25 million refinance of Palomar Commons, a 185,502 sq.ft. retail property located at 2521 Palomar Airport Road in Carlsbad, California. The transaction was structured with a 10-year term with 2-years interest only followed by a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a life insurance company. “This property is subject to an unsubordinated ground lease,” said Dobbins. “The lender won the business by offering a competitive rate, 2-years interest only and maximum prepayment flexibility.”

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 $13 billion, loan servicing portfolio of more than $57 billion and the multi-year tenure of our more than 500 people.