NorthMarq Capital's Los Angeles office arranges $7.9 million refinance of Vail Ranch Shopping Center in Temecula, California

Vail Ranch Shopping Center

Debt & Equity

Multi-Tenant

LOS ANGELES (May 1, 2017) – Michael T. Elmore, executive vice president/managing director of NorthMarq Capital’s Los Angeles regional office, secured the $7.9 million refinance of Vail Ranch Shopping Center, a 102,882 sq. ft. retail property located at 33105, 33125, 33145, 33165, 33175, 33205 and 33215 Temecula Parkway in Temecula, California. The transaction was structured with a 15-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. Ralph’s Grocery and CVS Drugs represents the property’s major tenants. “State Farm did this loan 14 years ago and was very aggressive in locking a rate early and discounting the prepayment penalty on the old mortgage,” said Elmore. “The property is a great grocery/drug anchored center with low leverage and a strong surrounding residential area. The coupon on the new 15-year loan is 3.56% fixed.”

View Available Shopping Center Listings

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.