March 23, 2016
Minnesota-based NorthMarq Capital secured a $31.5-million acquisition loan for Northridge Summit, an institutional-quality office building located along the I-15 corridor in San Diego. The three-story, Class A 135,000-square-foot building is located in the Scripps Ranch/Poway submarket.
NorthMarq arranged the financing for the borrower, through its relationship with a CMBS lender. The borrower is an entity sponsored by the principals of Davlyn Investments.
Founded in 1993, Davlyn Investments is a prominent San Diego-based real estate operating company that specializes in the acquisition, repositioning, management and sale of multifamily, office and industrial properties throughout California.
NorthMarq Capital’s Eric Flyckt handled the financing assignment.