CITRUS HEIGHTS, CA – Newmark has arranged acquisition financing in the amount of $5,700,000, secured by a 28,243 SF single tenant space in Citrus Heights, CA. The newly constructed space is occupied by a Smart & Final, which opened in May 2016. The property is situated among several shopping centers and suburban housing developments making it a prime location in Citrus Heights.
Mitch Zeemont, Principal, and Darija Walker, Associate, in Newmark’s San Francisco office, arranged the non-recourse, 20-year term, 20-year amortization with one of Newmark’s correspondent life insurance company relationships. Newmark will service the loan. Pricing and other terms were not disclosed.
Newmark is a full service mortgage banking firm with an impressive lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services approximately $9 billion representing over 1,100 loans. Newmark is rated as a Primary Servicer by Standard & Poor’s and is one of a select few non-banking/non-insurance chartered companies with this designation.