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SAN DIEGO — NorthMarq Capital has negotiated $6.7 million in refinancing for a portfolio of Pearl Car Washes in California. The 17,329 square-foot portfolio includes 600-602 Pearl Street in La Jolla; 215 Woodlawn Ave. in Chula Vista; 823 N. Broadway in Escondido; and 322 E. Mission Road and 2189 E. Valley Parkway in Fallbrook.
The transaction was structured with a 15-year fully amortizing term. Daniel McCarthy of NorthMarq arranged the financing for the undisclosed borrower through NorthMarq’s correspondent relationship with a life insurance company.