NorthMarq Capital’s Boston office arranges acquisition financing of $10.5 million for industrial property in Chicago, Illinois
BOSTON (November 29, 2017) – Michael Chase, senior vice president of NorthMarq Capital’s Boston regional office, arranged acquisition financing of $10.5 million for a 310,775 sq. ft. industrial property located along West Ann Lurie Place in Chicago, Illinois. The transaction included interest-only for the full term of the loan and a flexible prepayment structure. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. The property is 100 percent leased.
“Lenders were quick to recognize the quality of the asset, location and sponsorship,” noted Chase. “We were pleased to once again be able to meet the financing needs of a long-term client.”
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.
