82
LAGUNA BEACH, CALIF. — Newmark Realty Capital has arranged $10 million in financing for the acquisition of Gelson Market’s in Laguna Beach. The 34,478-square-foot grocery store is located on Pacific Coast Highway.
George Mitsanas and Doug Tisdale of Newmark arranged the fixed-rate, non-recourse financing for the borrower, a Beverly Hills-based developer.
The 10-year loan, provided by a life insurance company, features interest-only payments during the first five years and a 30-year amortization schedule.