NorthMarq Arranges $63M Acquisition Loan For Class A Office Towers In Downtown San Diego

Two Class A office towers, known as 1 & 2 Columbia Place, are located at 401 West A Street & 1230 Columbia Street in Downtown San Diego. The total square footage of the asset is 720,332 square feet. The recent acquisition involved a loan amount of $63,000,000, reflecting a loan-to-value ratio of approximately 61%.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $63,000,000
• Loan Type: Acquisition
• Address: 401 West A Street & 1230 Columbia Street
• Market: San Diego
• Square Footage: 720,332
• Brokers: Conor Freeman, Aaron Beck & Wyatt Campbell - NorthMarq

NorthMarq arranged the acquisition loan on behalf of the sponsor through a national life insurance company. The asset features recently renovated West Side towers that include upgraded lobbies, spec suites, fitness amenities, outdoor terraces, transit access, and proximity to Little Italy.