NorthMarq’s San Diego office arranges $4,500,000 in acquisition financing for single-tenant Walgreens in Citrus Heights, California
Walgreens
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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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.
