Senior Housing - Debt

NorthMarq Capital arranges acquisition and rehab financing of $9.96 million for a Planned Memory Care Facility in La Jolla, California

SAN DIEGO (April 13, 2015) – Aaron Beck, vice president of NorthMarq Capital’s San Diego based office arranged acquisition and rehab financing of $9.96 million for Monarch Cottages located in La Jolla, California. The business plan calls for the conversion of a vacant medical office building into a class “A” memory care facility. The loan provides interest-only payments with a floating rate, and minimal recourse. NorthMarq arranged financing for the borrower through its relationship with a debt fund.

“The borrower required a loan structure for an asset class that very few lenders were able to accommodate,” said Beck. “The loan provides the necessary structure and funds for both acquisition and construction.”

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.