NorthMarq’s San Diego office arranges $5.775 million acquisition financing for Self-Storage Facility in Whittier, California
SAN DIEGO, CALIFORNIA (June 15, 2021) – Wyatt Campbell, vice president and Aaron Beck, senior vice president of NorthMarq’s San Diego secured a $5,775,000 bridge loan for the acquisition and reposition of a 470-unit storage facility located in Whittier, California. The non-recourse bridge financing was arranged for the borrower through a debt fund.
“This deal was up and down in under 60 days,” explained Campbell. “The lender provided a high leverage option that was structured with full-term interest-only payments and provided funds for the borrower to improve the property.”
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