Mixed Use - Debt

NorthMarq negotiates $3.4 million refinance of mixed-use property in San Juan Capistrano, California

NEWPORT BEACH, CALIFORNIA (May 11, 2020) – Joe Giordani, senior vice president/managing director and Mike Elmore, executive vice president/managing director of NorthMarq’s Newport Beach office worked together to arrange the $3.4 million refinance of Turner San Juan. The 40,207 sq. ft. mixed-use property is located at  26081 Avenido Aeropuerto, 33046 Calle Aviador, and 33052 Calle Aviador in San Juan Capistrano, California. The transaction was structured with a 13-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a national bank. 

The permanent-fixed financing is for three concrete tilt-up light industrial/commercial buildings built between 1972-1974. The buildings are part of the San Juan Capistrano Business Park. 

“This financing was quoted and placed under application during the first week of the Covid-19 pandemic. Thankfully due to a responsive sponsor, lender, and mortgage banking team, the loan closed as applied for before the impact of the shutdown filtered through the economy,” said Giordani. 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $16 billion, loan servicing portfolio of more than $65 billion and the multi-year tenure of our nearly 600 people.