NorthMarq Capital’s Los Angeles office arranges bridge financing of $8.44 million for the acquisition of Harbor Medical in Fullerton, California
Harbor Medical
LOS ANGELES (April 29, 2016) – Robert R. Hervey, executive vice president/senior managing director of NorthMarq Capital’s Los Angeles-based regional office arranged acquisition financing of $8.44 million for Harbor Medical, a 30,687 sq. ft. medical office property located at 2720 North Harbor Boulevard in Fullerton, California. The transaction was structured with a 3-year term with 2–years interest only and 30-year amortization schedule. The transaction required the lender to understand major near-term tenant roll-over and to close quickly. “The borrower is very experienced the acquisition and refurbishment of similar properties,” noted Hervey. “The lender moved quickly to understand the market and approve the business plan that will make this repositioning successful.”
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.
