Industrial - Debt

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

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.