November 30, 2017

NorthMarq Capital secures $18 million refinance of industrial property located in Los Angeles, California

Industrial Property

Debt & Equity

Multi-Tenant

LOS ANGELES (November 30, 2017) – Michael Elmore, executive vice president of NorthMarq Capital’s Los Angeles regional office, finalized the $18 million refinance of a 354,809 sq. ft. industrial property located at 1444 South Alameda Street in Los Angeles, California. The transaction was structured with a 5-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a life insurance company. “This loan recapitalized a previous transaction from 2010,” noted Elmore. “The new loan allowed one of the four buildings to be released without a loan pay down. The buildings are all leased to a long-term tenant but with less than three years remaining on the lease term. This leasing risk was mitigated without cash collateral. The overall loan structured allowed the owner to have a flexible business plan.”

Available Industrial properties

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.