NorthMarq Capital’s Phoenix office arranges a $1.85 million refinance for The Shores Inn in Ventura, California
The Shores Inn
PHOENIX – NorthMarq Capital’s Phoenix based office arranged a $1.85 million refinance for The Shores Inn, a 30-unit motel located at 1065 South Seaward Avenue in Ventura, California. The transaction was structured with a fully amortizing 25-year term. NorthMarq arranged financing for the borrower through its relationship with a regional bank.
“This was a refinance of a maturing Chase loan and some minimal cash-out,” said Teske. “The transaction has a fully amortizing 25-year term fixed for seven years at 5.1 percent.”
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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.
