Updated Feb 17, 2026
NorthMarq Arranges $63M Acquisition Loan For Class A Office Towers In Downtown San Diego
401 West A Street & 1230 Columbia Street
$63,000,000
$43/SF
Building Size
720,332 SF
Asset Type
Office
Closing
Feb 11, 2026
About this deal
AI
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.
On the Map
$63,000,000
$43/SF
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.25%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93