November 14, 2016

NorthMarq Capital secures $6.8 million refinance of strip retail property in Rancho Cucamonga, California

Strip Retail Property

Debt & Equity

Multi-Tenant

SAN DIEGO (November 14, 2016) – Aaron Beck, vice president of NorthMarq Capital’s San Diego regional office, arranged the $6.8 million refinance of a strip retail property located in Rancho Cucamonga, California. NorthMarq arranged financing for the borrower through its relationship with a CMBS lender. The project is well located within its submarket, as evidenced by strong historical occupancy and consistent rent growth in recent years. The property also benefits from its close proximity to major retailers and regional thoroughfares. “The purpose of the refinance was to take out a maturing CMBS loan that was originated at the peak of the market and included very little amortization,” said Beck. “The lender was able to accommodate a low debt yield in order to keep the borrower from coming out of pocket with additional equity. The loan was structured with interest-only payments and a mid-four percent interest rate.”

Available Retail (MT) properties

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 and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.