September 30, 2015

NorthMarq Capital’s Elmore refinances 50,405 sq.ft. office in San Diego, California for $5.46 million

The Courtyard

Debt & Equity

Multi-Tenant

LOS ANGELES (September 30, 2015) – Michael T. Elmore, executive vice president/managing director of NorthMarq Capital’s Los Angeles office finalized the $5.46 million refinance of The Courtyard, a 50,405 sq.ft. office property located at 6480 Weathers Place in San Diego, California. The transaction was structured with a 10-year term (years 1-3 fixed rate and years 4-7 floating rate) and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a national bank. “This office property had below market occupancy and short-term rollover risk along with a maturing loan,” said Elmore. “The bank was able to mitigate these risks, give the borrower a flexible prepayment structure and make the loan maturity deadline.”

Available Office 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.