PHOENIX, ARIZONA (March 11, 2021) – James DuMars, senior vice president/managing director of NorthMarq’s Phoenix Debt/Equity office arranged the $18 million refinance of Scipps Mesa Business Park. The 210,000 sq. ft. industrial property is located at 9879, 9889, 9899, 9909, 9919, 9929, 9939 Hibert Street, 9920 & 9950 Scripps Lake Drive and 10675 & 10695 Treena Street in San Diego, California. The transaction was structured with a 7-year interest-only term. NorthMarq negotiated the permanent-fixed loan for the borrower through its correspondent relationship with a life insurance company.
As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $16 billion, loan servicing portfolio of more than $65 billion and the multi-year tenure of our nearly 600 people.
