NorthMarq Capital arranges $10,000,000 bridge loan on vacant office

Vacant Office

Debt & Equity

Multi-Tenant

NEWPORT BEACH (October 1, 2018) – John Marshall, vice president of NorthMarq Capital’s Los Angeles regional office, arranged a $10 million bridge loan to acquire, renovate, and lease a 56,146 square foot, vacant office building located in Pleasanton, California. Marshall arranged the loan on behalf of a regional sponsor and their joint-venture partner.

The loan provided future funding for building renovations, tenant improvements, and leasing commissions. On behalf of the borrower, NorthMarq negotiated deferred equity disbursements, extension options with minimal covenants, and flexibility to execute multiple business plans.

“Bridge pricing and loan covenants remain aggressive as lenders struggle to meet their volume targets. Bids were extremely competitive considering the transaction size and the winner was able to execute within a short closing timeline,” said Marshall.

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About Northmarq

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.