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 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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
