Northmarq announces $11M refinance of University of California Berkeley’s Stadium Garage and Maxwell Family Field
SAN FRANCISCO (Aug. 20, 2024) — Northmarq’s San Francisco Debt + Equity team arranged $11 million in financing for Stadium Garage and Maxwell Family Field located at 2175 Gayley Rd. in Berkeley, California. The Northmarq team was led by Senior Vice Presidents Briana DeHaan and Dan Baker with support from Andrew Deaver.
“This is a critical parking garage on University of California (UC) Berkeley’s campus,” said DeHaan. “The lender dug in early to understand the supply/demand economics for parking around UC Berkeley and offered attractive fixed-rate financing on this leasehold asset.”
The Northmarq team secured a 3-year fixed-rate loan through a pension fund relationship.
Stadium Garage is a 138,000-sq.-ft. parking garage, comprised of a two-level parking structure with 439 parking spaces and a rooftop sports field. The property is adjacent to UC Berkeley’s Memorial Stadium, the Greek Theatre and the Haas School of Business.
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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.
