California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
NorthMarq Capital Arranges $25M Bridge Loan for Oberlin Tech
NorthMarq Capital arranged the $25.15 million refinance for Oberlin Tech, a 105,565-square-foot life science and office property located at 5555, 5601, 5626 and 5627 Oberlin Drive in San Diego. The borrowers were Birmingham, AL-based Harbert Management Corporation, and San Diego-based Cypress Office Properties.
NorthMarq Capital’s Dennis Williams and Briana Harney structured the transaction with a 2-year interest-only term through its relationship with a bridge/mezzanine lender.
“HMC and Cypress acquired Oberlin Tech in 2016, and have successfully repositioned the property to primarily life sciences uses,” explained Williams. “The new loan allowed the borrower to refinance their existing debt on the property, and will fund current and future capital expenditures, ultimately enabling the borrower to complete their business plan.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing


