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. 

Northmarq is an industry-leading capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with an open, flexible structure, enabling our team of seasoned professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of over $30 billion, and loan servicing of nearly $70 billion.