Northmarq arranges $12 million financing for shadow-anchored retail center in San Diego, California

Shadow-Anchored Retail Center

SAN DIEGO (January 5, 2022) – Eric Flyckt, managing director, and Casey Allred, vice president, of Northmarq’s San Diego office, arranged a $12.0 million refinance of a shadow-anchored retail center located in San Diego, California. An insurance company funded the 10-year, fixed-rate, loan with interest-only payments for the entire term. Northmarq is a correspondent for the lender and will service the loan. The loan was structured with yield maintenance during the first seven years, then 3%, 2%, 1% in years 8 to 10 and par during the last six months. The rate was locked, via a two-page term sheet, six-months prior to funding at under 2.8%.

The property is situated in a strong location and was 100% leased to a solid and diverse tenant mix at closing.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit

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