NorthMarq Capital’s Los Angeles based office completes acquisition financing of $11.75 million for Red Hill Technology Center
Red Hill Technology Center
LOS ANGELES (February 3, 2015) – Robert R. Hervey, executive vice president/senior managing director of NorthMarq Capital’s Los Angeles based regional office secured acquisition financing of $11.75 million for Red Hill Technology Center, a 94,557 sq.ft. office property located at 2850 South Red Hill Avenue in Santa Ana, California. The transaction was structured with a 10-year term and 30-year amortization schedule. Northmarq arranged financing for the borrower through its relationship with Jackson National Life Insurance Company. Major tenants on the property include: Pacific Union Financial, LLC, William Hezmalhalch Architects, Inc. and Western Growers Association. “A very strong and experienced borrower acquired this outstanding quality building, which was crucial to bringing in this great life insurance company,” said Hervey. “Both the lender and the borrower moved quickly to close the loan and acquisition on time, which was not easy considering this was done during the Christmas/New Year holidays.”
About Northmarq
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
