NorthMarq’s Paul Brighton arranges refinance of retail property in Lompoc, California
DALLAS, TEXAS (February 18, 2019) – Paul Brighton, senior vice president/senior director of NorthMarq’s Dallas-based regional office arranged the refinance of a 38,914 sq. ft. retail property located in Lompoc, California. The transaction was structured with a 10+10-year term. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.
“The center was built in 1983,” said Brighton. “The borrower’s collateral sits on five non-contiguous parcels, consisting of five buildings and 20 tenant spaces. The lender was able to provide a long-term financing solution for the borrower with a 10+10 loan structure.”
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