NorthMarq’s Phoenix office secures $13.25 million permanent loan for Scripps Mesa Business Park
PHOENIX, ARIZONA (December 12, 2019) – James DuMars, senior vice president/managing director of NorthMarq’s Phoenix office arranged a $13.25 million permanent loan for Scripps Mesa Business Park in San Diego, California.
Financing Details:
- 7-year interest-only term
- Permanent-fixed loan
- NorthMarq arranged financing for the borrower through its relationship with a regional bank.
Property Details:
- The class A- industrial property contains 208,433 sq. ft.
Producer Quote:
“This was a modification of an existing loan. The existing Lender was willing to lower their existing interest rate on the note and extend the term for an additional 5-years at this rate.”
- James DuMars
Meet our team
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
