Industrial

NorthMarq Capital arranges $7.15 million refinance for Tide Court Industrial in Woodland, California

LOS ANGELES (December 16, 2014) – Robert R. Hervey, executive vice president/managing director of NorthMarq Capital’s Los Angeles based regional office finalized the $7.15 million refinance of Tide Court Industrial, a 432,000 sq.ft. property located at 1685 Tide Court in Woodland, California. The transaction was structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.

The building is 83 percent leased of which 15 percent is on month-to-month tenancy. With a conservative loan amount and a strong borrower, the lender was able to close the loan without leasing escrows. Major tenants include Clark-Dietrich Building Systems LLC and Johnston’s Trading Post, Inc.

“The borrower is strong and very experienced in the ownership and management of bulk industrial buildings,” said Hervey. “That, combined with a great existing relationship with the lender, made this a good deal for all parties involved.”

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.