NorthMarq Capital’s Los Angeles secures $7.5 million refinance of two industrial properties in Modesto, California
LOS ANGELES (February 21, 2018) – Ory Schwartz, senior vice president/managing director of NorthMarq Capital’s Los Angeles office, arranged $7.5 million in financing for two industrial properties located in Modesto, California. Wieland Industrial Property: This 154,818 sq. ft. industrial property is located at 214 Wieland Avenue in Modesto, California. The $3.5 million refinance was structured with a 10-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. Doherty Industrial Property: This 171,300 sq. ft. industrial property is located at 2336 Doherty in Modesto, California. The $4 million refinance was structured with a 10-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. Stanislaus Food Products represents the property’s major tenant.
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