NorthMarq Capital arranges $4.25 million refinance of 4502 Airport Drive Industrial Building in Ontario, California
Airport Drive Industrial Building
LOS ANGELES (April 21, 2014) – Robert R. Hervey, executive vice president/senior managing director of NorthMarq Capital’s Los Angeles based regional office finalized a $4.25 million refinance of a non-recourse loan for an 115,316 sq.ft. non-credit, single-tenant industrial building located at 4502 E. Airport Drive, Ontario, California. The transaction was structured with a 10-year term and 25-year amortization schedule and was arranged for the borrower by NorthMarq through its relationship with a correspondent life company. The Newark Group, Inc. is the tenant. “A long-standing relationship with the borrower and the lender, plus a high quality building in a great industrial location made this transaction highly desirable for the lender and property owner,” said Hervey.
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.
