NorthMarq Capital arranged $3.5 million mortgage for Sports Gallery Commercenter in Anaheim, California
Sports Gallery Commercenter
LOS ANGELES (January 28, 2013) – David Blum, senior vice president and senior director of NorthMarq’s Los Angeles regional office, arranged acquisition financing of $3.5 million for Sports Gallery Commercenter, a 47,197 sq. ft. industrial property located at 1726-1751 S. Douglass Road in Anaheim, California. Financing was based on a 4.0% fixed-rate 10-year term with a 30-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a local credit union. “This was a value-add transaction with the property being 20% vacant at closing,” said Blum.
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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
