Northmarq’s Los Angeles office arranges $6.9 million acquisition loan for grocery-anchored shopping center
LOS ANGELES (Dec. 11, 2023) — Ory Schwartz, senior vice president and managing director of Northmarq’s Los Angeles Debt + Equity team, has secured a $6.9 million acquisition loan for a 23,922-sq.-ft. multi-tenant retail property in Granada Hills, California. The grocery-anchored shopping center, Knollwood Plaza, was built in 1974 and features an array of tenants with triple net leases including Starbucks, The UPS Store and Massage Envy. Northmarq arranged financing on behalf of the borrower through a relationship with a credit union with maximum prepayment flexibility. The transaction was structured on a 10-year term with a 30-year amortization schedule.
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