Industrial

NorthMarq Capital arranges $20 million refinance for industrial portfolio in Las Vegas, Nevada

LOS ANGELES (August 9, 2017) David Blum, senior director of NorthMarq Capital’s Los Angeles office and Scott Monroe, managing director of NorthMarq Capital’s Las Vegas office, collaborated to negotiate refinancing of $20,000,000 for 399,400 sq. ft. of six industrial properties located throughout Las Vegas, Nevada. The loan term was structured for 10 years with a sub-four percent rate. NorthMarq arranged financing for the borrower through its relationship with a correspondent life company.

“This was a six-month forward rate lock for a high quality 100 percent leased industrial portfolio. We were able to utilize NorthMarq’s team platform in order to ensure a smooth process and provide the best service to the client,” said Blum.

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through its 36 offices across the U.S. The company has built long-term relationships with life companies, CMBS platforms and local, regional and national banks, with a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. The company closes approximately $13 billion in commercial real estate loans annually and services a loan portfolio of more than $50 billion. For more information please visit www.northmarq.com.