Industrial - Debt

NorthMarq Capital

NorthMarq Capital's Boston office arranges $7 million refinance of an industrial property located in Columbus, Ohio

BOSTON (July 2, 2014) – James Murphy, Managing Director of NorthMarq Capital’s Boston based regional office secured a $7 million refinance of 3100 Creekside Drive, a 340,000 sq.ft. industrial property located in Columbus, Ohio. The transaction was structured with a 5-year term and 25-year amortization schedule and was arranged for the borrower by NorthMarq through its correspondent relationship with a life company.

“We are once again thankful for the opportunity to continue our long standing relationship with the client and we were pleased to be able to match them with a capital source that met the borrower’s needs for prepayment flexibility,” said Murphy. “The lender was able to underwrite the single-tenant risk in the transaction by recognizing the strengths of the asset, the prime location and sponsorship.”

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.