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 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.
