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