Northmarq’s San Diego office secures $10 million construction loan for self-storage property in Sonoma, CA
Self-storage facility
SAN DIEGO (Nov. 15, 2023) — Northmarq’s San Diego team of Wyatt Campbell, Aaron Beck and Conor Freeman secured the $10 million construction loan for the development of a 535-unit self-storage facility in Sonoma, California. The loan was arranged for the borrower through Northmarq’s relationship with a debt fund.
“The lender provided a high leverage and non-recourse option that was structured with full-term interest-only payments,” said Campbell. “The new loan helps facilitate the borrower’s acquisition of the previously entitled land. This project will continue to expand the borrower’s footprint in Northern California and will integrate seamlessly with their adjacent facility.”
Learn more about Northmarq’s financing services here.
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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.
