NorthMarq Capital’s Phoenix office arranges financing for $32 million sale of San Diego Business Park
San Diego Business Park
PHOENIX – James DuMars, senior vice president/managing director of NorthMarq Capital’s Phoenix-based regional office arranged a $16.65 million loan on the $32 million acquisition of an 11-building office/warehouse/flex business park, totaling approximately 208,500 sq. ft. in San Diego, California. The transaction was structured with a 5+5 term on a 25-year amortization with 3-years of interest-only and flexible prepayment options. Financing for the borrower was arranged through NorthMarq’s relationship with a national bank.
“This is an excellent asset in an irreplaceable location and a low leverage request; consequently, we had numerous lenders pursuing this opportunity. In the end, the sponsor selected a lender with extreme prepay flexibility, partial interest-only and a fixed rate," said DuMars.
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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.
