NorthMarq’s Phoenix office secures $13.25 million permanent loan for Scripps Mesa Business Park
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
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About Northmarq
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.
