NorthMarq Capital’s San Diego office arranges $3.85 million refinance of single-tenant office property in Clovis, California
SAN DIEGO (November 5, 2018) – Conor Freeman, vice president of NorthMarq Capital’s San Diego office, negotiated $3.85 million in financing for a 32,400 sq. ft. office property located in Clovis, California. The transaction was structured with a 5-year term and a 25-year amortization schedule. Freeman arranged the financing through a regional balance sheet lender.
“NorthMarq was able to get the lender comfortable with a local tenant in a secondary market,” said Freeman. “The sponsor was very pleased with the flexible prepay and low fixed rate which was locked 45 days prior to close.”
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