NORTHMARQ ARRANGES $19.1M IN FINANCING FOR CA, AZ SHOPPING CENTERS

LOS ANGELES, PHOENIX — NorthMarq Capital has arranged $19.1 million in mortgages for two shopping centers in California and Arizona. NorthMarq arranged $13.5 million in first-mortgage financing for the 108,809-square-foot Palo Woods Shopping Center in Harbor City, CA. Financing includes a 15-year term and a 15-year amortization schedule. It was arranged by NorthMarq through its correspondent relationship with ING Life Insurance and Annuity Company. In a separate transaction, NorthMarq also arranged $5.6 million in first-mortgage financing for the 28,776-square-foot Charleston Crossing shopping center in Sierra Vista, AZ. The mortgage has a 10-year term and a 25-year amortization schedule. It was arranged by NorthMarq through its correspondent relationship with Symetra Life Insurance Company.