NorthMarq Capital arranges $12 million acquisition financing of Bayside Square office buildings in Corona Del Mar, California
Bayside Drive Office Buildings
LOS ANGELES (December 10, 2015) – David R. Blum, senior vice president/senior director of NorthMarq Capital Los Angeles regional office and Nathan Prouty, senior director of NorthMarq Capital’s San Francisco regional office collaborated to arrange bridge acquisition financing of $12 million for two office buildings totaling 34,979 sq. ft. located at 1101-1111 Bayside Drive in Corona Del Mar, California. The transaction was structured for an initial term of four years plus two one-year extension options. NorthMarq arranged financing for the borrower through a debt fund. “This bridge acquisition loan will enable the borrower to re-position the subject property and execute their business plan,” explained Blum.
Meet our team
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
