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.”