NorthMarq Capital’s Los Angeles office completes $5.9 million refinance of Simi Valley Business Center in Simi Valley, California
LOS ANGELES (January 30, 2017) – Michael T. Elmore, executive vice president/managing director of NorthMarq Capital’s Los Angeles-based regional office, finalized the $5.9 million refinance of Simi Valley Business Center, an 82,237 sq. ft. industrial property located at 74, 80, 90, 94 and 98 West Cochran Street in Simi Valley, California. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with Chase Bank. “Chase provided five separate loans which can be assumed or paid-off individually,” said Elmore. “This will allow the borrower to sell an individual building to owners/users, investors or existing members of the LLC.”
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.
