NorthMarq Capital arranged $6 Million Mortgage for Paradise Shopping Center in San Diego, California
Paradise Shopping Center
SAN DIEGO (January 14, 2013) – Doug Austin, vice president of NorthMarq ‘s San Diego Regional office, arranged first mortgage refinancing of $6 million for Paradise Shopping Center, a 40,269 sq. ft. unanchored retail property located at 6905-6925 Paradise Valley Road in San Diego, California. Major tenants at the site are McDonald’s, Auto Zone, and Fersenius Dialysis Center. Financing was based on a 15-year term and a 25-year amortization schedule and was arranged for the borrower by NorthMarq through its relationship with a correspondent life company lender. “The interest rate was locked four months before funding,” said Austin.
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.
