December 16, 2015

NorthMarq Capital arranges $6.7 million refinance of Pearl Car Washes portfolio in San Diego County, California

Pearl Car Washes

Debt & Equity

Multi-Tenant

LOS ANGELES (December 16, 2015) – Daniel McCarthy, senior vice president/senior director of NorthMarq Capital’s Los Angeles office negotiated the $6.7 million refinance for a portfolio Pearl Car Washes. The locations, comprised of 17,329 sq. ft., are located at 600-602 Pearl Street, La Jolla; 215 Woodlawn Avenue, Chula Vista; 823 North Broadway, Escondido; 322 E. Mission Road, Fallbrook and 2189 E Valley Parkway. The transaction was structured with a 15-year fully amortizing term. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. “The lender was able to facilitate a five property portfolio in just less than six weeks from application to closing,” said McCarthy. “There were many moving parts, from environmental to appraisal, but in the end, the transaction was closed in record time.”

View Available Retail (MT) Listings

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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of more than $52 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.