NorthMarq Capital’s Los Angeles office arranges $4,387,000 refinance for retail property in Pasadena, California
Retail Property
LOS ANGELES (June 22, 2017) David Blum, senior vice president/senior director of NorthMarq Capital’s Los Angeles regional office, arranged refinancing of $4,387,000 for a 11,664 sq. ft. retail property located in Pasadena, California. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through a CMBS lender. “We were able to close the loan with 25 percent of the tenants still not open for business yet,” said Blum.
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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.
