NorthMarq's Los Angeles office completes $46.5 million refinance of Redlands Town Center in Redlands, California

Redlands Town Center

Debt & Equity

Multi-Tenant

LOS ANGELES (May 15, 2017) – Ory Schwartz, senior vice president/managing director of NorthMarq Capital’s Los Angeles regional office, arranged the $46.5 million refinance of Redlands Town Center, a 251,621 sq. ft. retail property located at 9900-10080 Alabama Street in Redlands, California. The transaction was structured with a 10-year interest only loan. NorthMarq arranged financing for the borrower through its conduit relationship with a CMBS lender. JC Penny and Toys R’ Us represent the property’s major tenants. “NorthMarq was successful both in mitigating the lender’s concern regarding the negative press on the anchor, JC Penny, and providing minimal structure for the potential rollover of the anchor tenants during the term of the loan,” said Schwartz. “The sponsor is an Orange County-based private firm that has a substantial retail portfolio throughout California.”

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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.