SAN DIEGO, CA – Mike Dobbins, vice president of NorthMarq’s San Diego regional office, arranged a ten year loan for $25 million for Palomar Commons, a 184,896 sq.ft. retail project located at SW Corner Palomar Airport Road and El Camino Real, Carlsbad, CA. The financing was placed with a major life insurance company and included a fixed rate for 10-years, two years interest only and 25-year amortization schedule. NorthMarq arranged this financing for the borrower, CSDI, LLC. Two major tenants of the shopping center include Lowe’s and California Bank & Trust.
NorthMarq, the largest privately held commercial real estate financial intermediary in the U.S., provides mortgage banking and commercial loan servicing in 33 offices coast to coast. With an average of $9.5 billion in annual production volume and servicing a loan portfolio of over $41 billion, the company offers expertise to borrowers of all size. The company has a long track record of multi-family financing as a Freddie Mac Program Plus™ Seller-Servicer, and through its affiliation with Fannie Mae DUS lender AmeriSphere Multifamily Finance. In addition, NorthMarq has long relationships with over 50 life companies, many CMBS platforms and hundreds of local, regional and national banks. For more information, please visit www.northmarq.com.