Northmarq arranges $15M refinance of 356,000-sq.-ft. distribution facility in Rancho Dominguez, CA

RANCHO DOMINGUEZ, Calif. — Vice President Karl Weidell of Northmarq’s Los Angeles Debt + Equity team secured the $15 million refinance of an industrial facility located in Rancho Dominguez, California.

Built in 1965, the distribution warehouse features approximately 356,000 square feet on almost 20 acres with 20-foot to 30-foot clear heights and 105 dock-high loading positions.

Northmarq arranged financing on behalf of a Los Angeles-based private investor through its extensive life company network. The transaction was structured on a 10-year term with a 30-year amortization schedule.

“With a brand-new lease at market rent, this transaction commanded the most competitive pricing available,” said Weidell. “The incumbent lender worked diligently to keep this attractive basis on their books.”