NorthMarq Capital arranges financing for two properties in San Diego and Vista, California totaling $13.43 million
Two Properties
SAN DIEGO (April 14, 2015) – Aaron Beck, vice president of NorthMarq Capital’s San Diego based office arranged the financing of two properties in San Diego and Vista, California totaling $13.43 million. The transactions contained no lender points and no prepay penalty. The non-recourse loans have fixed interest rates with interest-only loan payments for the full term. NorthMarq arranged financing for the borrower through its relationship with a correspondent life insurance company. “These interim loans provided the ideal structure and flexibility for the borrower to execute their value-add business plans at a low cost,” said Beck. “The lender also provided certainty of a timely execution.” San Diego, California: This 61,544 sq.ft. vacant office building, located in San Diego, California, received bridge financing of $7.18 million. Vista, California: This 77,000 sq.ft. industrial property, located in Vista, California, received bridge financing of $6.25 million.
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
