NorthMarq’s San Diego office arranges $4,500,000 in acquisition financing for single-tenant Walgreens in Citrus Heights, California
SAN DIEGO, CALIFORNIA (December 31, 2020) – Conor Freeman, vice president in NorthMarq’s San Diego office, negotiated $4.5 million in acquisition financing for a 15,120 sq. ft. Walgreens in Citrus Heights, an affluent suburb of Sacramento, California. The transaction was structured with an 8-year term on a 25-year amortization schedule. NorthMarq arranged the financing for a repeat borrower through its relationship with a regional bank.
“The lender provided 65 percent LTV and a loan term that is coterminous with the lease maturity, allowing the Borrower to lock in a low rate through 2028,” said Freeman.
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