Northmarq arranges $17.75 million refinance for self-storage facility in San Diego, California
Self-Storage Facility
SAN DIEGO, CALIFORNIA (August 29, 2022) – Wyatt Campbell, vice president, and Conor Freeman, vice president of Northmarq’s San Diego office, arranged the $17.75 million refinance of a newly developed self-storage facility in San Diego, California. The three-story property contains more than 1,200 units. Northmarq arranged the financing for the borrower through its correspondent relationship with a life insurance company.
“This loan was rate locked while the property was in lease-up and funded when the property was near stabilization,” said Campbell. “This pre-stabilized execution gave the borrower the ability to be ahead of the market and mitigate interest-rate volatility.”
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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.
