Self Storage

Salt Lake City office arranges $5.4 million acquisition finance of Towne Storage in West Jordan, Utah

SALT LAKE CITY (July 11, 2017) Salt Lake City’s production team arranged acquisition financing of $5,400,000 for Towne Storage, a self-storage property located in West Jordan, Utah. The transaction was non-recourse structured with a 10-year term on a 25-year amortization schedule. Salt Lake City arranged financing for the borrower through its relationship with a correspondent life company.

“We were able to help our client buy out his partner and secure a long-term, non-recourse loan solution for his acquisition,” said Pinnock.

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.