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Northmarq Arranges Refi on Porter Ranch Mixed-Use
Northmarq recently closed on external refinancing for a large retail property in Porter Ranch.The $35-million loan was arranged by SVP Ory Schwartz, managing director in Northmarq’s Los Angeles office. The Vineyards at Porter Ranch (built in 2019) is located at 20039-20209 Rinaldi St and totals 203,174 square feet.
Northmarq arranged financing for the borrower through its relationship with a life insurance company. The permanent-fixed rate loan was structured on a 10-year term on a 30-year amortization schedule.
“The subject is an institutional quality, grocer-anchored retail center,” said Schwartz. “This is the type of property that life insurance companies are eager to have the loan on their books. Northmarq conducted a thorough process and ultimately, the sponsor selected one of Northmarq’s correspondent life companies that provided the most compelling terms.”
The Vineyards at Porter Ranch is a mixed-use development with an open-air mall, restaurants, shops, a hotel, movie theaters and apartments.
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- ◦Financing
