Retail - Debt

NorthMarq Capital arranged $5.1 million in combined mortgages for two retail properties in Santa Monica, California

LOS ANGELES (February 11, 2013) – Ory Schwartz, senior vice president and senior director of NorthMarq’s Los Angeles Regional office, arranged combined first mortgage refinancings of $5.1 million for two unanchored retail properties containing a combined total of 16,532 sq. ft. of retail space located in Santa Monica, California.

• 1701 – 1703 Wilshire Boulevard contains 9,574 sq. ft. of retail space and is occupied by four tenants. The property was financed at $3.1 million.

• 1092 – 1914 contain 6,958 sq. ft. of retail space and fully leased to Men’s Wearhouse and Brooks Shoes. The property was financed at $2 million Financing for these properties was based on a 10-year term and a 25-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a correspondent life company lender.

“This transaction represents two separate loans on two properties less than a mile away from each other in a prime urban location in Santa Monica about 1 mile from the Santa Monica beach,” said Schwartz.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.