La Verne Shopping Center receives $4.4 million refinance from NorthMarq Capital’s Los Angeles office
LOS ANGELES (September 1, 2015) – Michael Elmore, executive vice president/managing director and Ory Schwartz, senior vice president/managing director of NorthMarq Capital’s Los Angeles based regional office arranged the $4.4 million refinance of a shopping center located at 1400, 1410 and 1480 Foothill Boulevard in La Verne, California. The transaction was structured with a 13-year term and 30-year amortization schedule and featured a 4.46% fixed rate for 10-years with a floating tail. NorthMarq arranged financing for the borrower through its relationship with a national bank. RiteAid, AutoZone and Carl’s Jr. represent the property’s major tenants.
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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.
