NorthMarq Capital arranges $7.5 million refinancing for Fullerton University Shopping Center in Fullerton, California

LOS ANGELES (December 19, 2013) – Robert R. Hervey, executive vice president/senior managing director of NorthMarq’s Los Angeles regional office arranged refinancing of $7.5 million for the Fullerton University Shopping Center, a 162,832 sq.ft. retail property located at 1631-1725 Placentia Avenue and 2910-2988 East Yorba Linda Boulevard, Fullerton, Calif. The transaction was structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower, Fullerton University Shopping Center, L.L.C. through its relationship with the CMFG Life Insurance Company. Major tenants at the plaza include Target and Payless Shoes. The anchor tenant is in their option periods and there is ongoing environmental remediation at the site. “The lender was able to get their arms around the issues and provide a strong quote to win the business,” said Hervey. “It was helpful to have a great occupancy history on this well located shopping center.”