Mixed Use - Debt

NorthMarq Capital

NorthMarq Capital’s San Diego office arranges $7.2 million financing for Venetian Villas in San Clemente, California

SAN DIEGO (August 8, 2018) – Aaron Beck, vice president of NorthMarq Capital’s San Diego regional office, arranged a $7.2 million loan for Venetian Villas, a mixed-use property with luxury residential units over commercial space. The property is well located in the coastal market of San Clemente, just blocks from the beach, restaurants and shopping. The project features high-end luxury finishes in the residential units, a below-grade parking garage, secure entry and a rooftop deck with ocean views. The loan was structured with a floating rate and a 2-year term with extension options. 

“With this financing the borrower has the time needed to stabilize and season operations at the property,” said Beck. “The short-term loan is non-recourse to the borrower and provides interest only payments and minimal, if any, prepayment penalty. There are no holdbacks or reserves structured with the loan.”

 

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of $13 billion, loan servicing portfolio of more than $57 billion and the multi-year tenure of our more than 500 people.