NorthMarq Capital secures acquisition financing of $31.5 million for Northridge Summit in San Diego, California
Northridge Summit
SAN DIEGO (March 23, 2016) – Eric Flyckt, managing director of NorthMarq Capital’s San Diego office, secured a $31.5 million, acquisition loan for an institutional-quality office building located along the I-15 corridor in San Diego, California. The three-story, class “A” building is located in the Scripps Ranch/Poway submarket. NorthMarq arranged the financing for the borrower through its relationship with a CMBS lender. The borrower is an entity sponsored by the principals of Davlyn Investments. Founded in 1993, Davlyn Investments is a prominent San Diego-based real estate operating company that specializes in the acquisition, repositioning, management and sale of multifamily, office and industrial properties throughout California.
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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.
