NorthMarq Capital’s San Diego office negotiates $11 million financing for San Diego office buildings
Suburban Office Project
SAN DIEGO (January 14, 2016) – Steve Hollister, senior vice president and Aaron Beck, vice president of NorthMarq Capital’s San Diego office arranged an $11 million bridge loan for a suburban office project located in San Diego, California. The transaction was structured with a three year interest only term. “The non-recourse loan includes a future funding provision that provides the borrower with the necessary dollars to complete renovations to the property and increase occupancy to a stabilized level, at which point additional loan dollars will be funded,” said Hollister. “The low floating rate and attractive prepayment structure will allow the borrower to execute their business plan with a great deal of flexibility,” added Beck.
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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.
