LOS ANGELES (August 14, 2013) – Michael Elmore, executive vice president and managing director of NorthMarq’s Los Angeles regional office, arranged first mortgage refinancing of $4.725 million for the 85,546 sq. ft. Bukewihge Compton Industrial Building located at 2988 E. Ana Street in Compton, CA. Financing was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a national bank. “This transaction provided 100% cash-out non-recourse financing on a single tenant industrial building,” Elmore said. “The lender was aggressive in increasing the loan by nearly 10% after rate lock based on a favorable appraisal. The loan provided liquidity for future acquisition on strong economic terms.”
Industrial -
Debt
