Industrial - Debt

NorthMarq Capital arranged $4.725 million mortgage for Bukewihge Compton Industrial Park in Compton, California

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.”

Northmarq is an industry-leading capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with an open, flexible structure, enabling our team of seasoned professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of over $30 billion, and loan servicing of nearly $70 billion.