SAN DIEGO (January 14, 2013) – Doug Austin, vice president of NorthMarq ‘s San Diego Regional office, arranged first mortgage refinancing of $6 million for Paradise Shopping Center, a 40,269 sq. ft. unanchored retail property located at 6905-6925 Paradise Valley Road in San Diego, California. Major tenants at the site are McDonald’s, Auto Zone, and Fersenius Dialysis Center. Financing was based on a 15-year term and a 25-year amortization schedule and was arranged for the borrower by NorthMarq through its relationship with a correspondent life company lender. “The interest rate was locked four months before funding,” said Austin.
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