Northmarq’s San Diego office secures $6.59 million self-storage acquisition loan in Stockton, CA
SAN DIEGO (July 15, 2024) — Northmarq’s San Diego team of Wyatt Campbell, Aaron Beck, Conor Freeman and Bryce Quezada secured a $6.59 million loan for the acquisition of a 523-unit self-storage facility in Stockton, California. The loan was arranged for the borrower through Northmarq’s relationship with an insurance company. The fixed rate loan was structured with a 3-year term and partial interest-only payments.
“The lender provided a non-recourse loan that was priced in the mid 7%’s,” said Campbell. “Another great value add acquisition for one of our strong repeat clients — thank you to everyone involved.”
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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 an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.Northmarq.com.
