NorthMarq’s San Diego office arranges $5.775 million acquisition financing for Self-Storage Facility in Whittier, California
Self-Storage Facility
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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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.
