NorthMarq Capital arranges $12 million acquisition financing of Bayside Square office buildings in Corona Del Mar, California

Bayside Drive Office Buildings
Debt & Equity
Multi-Tenant
Office
Debt
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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.
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