NorthMarq Capital arranges $6.75 million refinance of AmeriCold building in Salt Lake City, Utah
AmeriCold
LOS ANGELES (June 16, 2014) – Robert Hervey, executive vice president/managing director of NorthMarq Capital’s Los Angeles based regional office secured the $6.75 million refinance of a 242,405 sq.ft. AmeriCold Industrial Cold Storage building located at 1646 South 4490 West, Salt Lake City, Utah. 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. “This was a very low-leverage loan on a class “A” cold-storage distribution building with a very strong borrower, resulting in very good loan terms,” 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.
