NorthMarq Capital’s Los Angeles based office completes refinance of $1 million for AAA Self Storage of Indio, California
AAA Self Storage
LOS ANGELES (February 2, 2015) – Daniel B. McCarthy, senior vice president of NorthMarq Capital’s Los Angeles office secured the $1 million refinance of AAA Self Storage of Indio, a 280-unit self-storage property located at 82521 Market Street in Indio, California. The transaction was structured with a 20-year term and 20-year amortization. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. “The borrower was able to obtain low leverage, low rate 20-year fully amortizing loan on the property,” noted McCarthy.
About Northmarq
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
