NorthMarq Capital arranges three first mortgage loans totaling $34.98 million

LOS ANGELES (September 17, 2014) – David Blum, senior vice president of NorthMarq Capital’s Los Angeles based regional office arranged first mortgage loans for three separate properties in Woodland Hills, Beverly Hills and Laguna Niguel, California. Victory & Topanga: This 164,312 sq.ft. office/retail property, located at 6325 & 6355 Topanga Canyon Boulevard in Woodland Hills, California was financed with a $19.3 million first mortgage loan. The transaction, featuring a significant cash-out for the office and retail buildings, was structured with a 10-year interest-only term. NorthMarq arranged financing for the borrower through its relationship with a CMBS lender. Fleming’s & Roy’s is the property’s major tenant. Blum arranged the transaction in coordination with Michael Elmore, executive vice president/managing director of NorthMarq’s Los Angeles based office. La Cienega Medical Office: This 78,903 sq.ft. medical office building, located at 50 N. Cienega in Beverly Hills, California was financed with a $10.5 million first mortgage loan. The transaction was structured with a 20-year term and 20-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. “The loan featured a six month free forward rate lock to accommodate the borrower’s first open par pre-pay window with an approximately 4% rate,” said Blum. The Grove Shopping Center: This 45,038 sq.ft. retail center, located at 28971-28991 Street of the Golden Lantern in Laguna Niguel, California, was financed with a $5.18 million first mortgage loan. The transaction was structured with a 10-year term and 15-year amortization schedule. NorthMarq arranged financing for the borrower through a CMBS platform. Major tenants of the property include Pet’s Plus and Fresh & Easy. “The property was encumbered by a short-term ground lease,” said Blum.