NorthMarq Capital arranges $4 million loan for a 17,283 sq.ft. retail center in the city of Orange, California
El Paseo Plaza
LOS ANGELES (October 29, 2015) – Michael T. Elmore, executive vice president/managing director and David Blum, senior director of NorthMarq Capital’s Los Angeles office arranged the $4 million refinance of El Paseo Plaza, a 17,283 sq.ft. retail property located at 3544-3630 Chapman Avenue in Orange, California. The transaction, which featured a significant cash-out, was structured with a 10-year term with 2-years interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a national bank. This property was the first drive-through Starbucks in Orange County.
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.
