LOS ANGELES (December 2, 2016) – Mark Dodson, vice president of NorthMarq Capital’s Los Angeles-based regional office, arranged the $4.95 million refinance of a 23,347 sq. ft. retail center located in Vallejo, California. The transaction was structured with a 5-year fixed rate term. NorthMarq arranged financing for the borrower through its relationship with a credit union. Comcast, Dominos, Subway and AT&T represent the property’s major tenants.
“This was a complicated transaction due to another lender being unable to close, thereby forcing the borrower to find a new lender who could perform in a tight timeline,” said Dodson. “NorthMarq was not only able to move quickly to secure financing, but also provide more loan dollars and greater prepayment flexibility.”
About NorthMarq Capital
NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through its 36 offices nationwide. The company has built long-term relationships with life companies, CMBS platforms and local, regional and national banks, and has maintained a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. The company closes more than $12.5 billion in commercial real estate loans annually and services a loan portfolio of more than $47 billion. For more information please visit www.northmarq.com.