Industrial

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 Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through its 36 offices across the U.S. The company has built long-term relationships with life companies, CMBS platforms and local, regional and national banks, with a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. The company closes approximately $13 billion in commercial real estate loans annually and services a loan portfolio of more than $50 billion. For more information please visit www.northmarq.com.