NorthMarq Capital’s Los Angeles office arranges $29 million refinance of Ontario, California industrial property

Airport Center
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LOS ANGELES (January 21, 2016) – Robert R. Hervey, senior vice president/managing director and Joe Giordani, vice president of NorthMarq Capital’s Los Angeles regional office arranged the $29 million refinance of Airport Center, a 600,000 sq. ft. industrial property located at 1460 S. Archibald Avenue in Ontario, California. The transaction, which featured a six-month forward rate lock, was structured with a 10-year term and 25-year amortization schedule. “The deal involved a high quality borrower and high quality lender and represents great collateral that has always performed well,” said Hervey. “The borrower had the foresight to go to market early looking for a loan and lock rate well in advance of their existing loan maturity. Due to our correspondent lender’s best-in-class pricing and free six-month forward rate lock, they offered the best spread and proceeds in the market for the refinance.”

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.

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