NorthMarq’s San Diego office arranges $3.8 million refinance of industrial property in Poway, California
SAN DIEGO, CALIFORNIA (April 10, 2020) – Steve Hollister, senior vice president of NorthMarq’s San Diego office, negotiated the $3.8 million refinance of Pomerado Leasing No. 4. The 50,781 sq. ft. multi-tenant industrial property is located at 13000 Danielson Street, Poway, California. The property is currently 100 percent occupied by a single, non-credit, tenant. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged the fixed-rate loan through its correspondent relationship with a life insurance company.
“This quality industrial asset was financed by a top life insurance company that NorthMarq represents as a correspondent,” said Hollister. “The lender provided an exceptional rate to win this low leverage business.”
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