October 15, 2013

Arranges $14 million refinancing for the Holiday Inn Express - Old Town in San Diego, California

Holiday Inn Express

Debt & Equity

Multi-Tenant

SAN DIEGO, CA (October 15, 2013) – Doug Austin, senior vice president and senior director of NorthMarq’s San Diego regional office secured refinancing of $14 million for the Holiday Inn Express—Old Town, located at 1955 San Diego Avenue, San Diego, California. Financing for this 124 unit property was based on a 10-year fixed loan term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower, Best Rest Motel, Inc., through its relationship with a CMBS lender.

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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.

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