Retail - Debt

NorthMarq Capital arranged $6 Million Mortgage for Paradise Shopping Center in San Diego, California

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.

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 more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.