Northmarq secures $6.1M refinancing of 3 industrial properties in Van Nuys, CA
Photo source: Partner Engineering
VAN NUYS, Calif. — Northmarq’s Los Angeles Debt + Equity team, led by Zalmi Klyne and Stanley Chu, successfully arranged $6.1 million in permanent financing for three flex/showroom industrial properties located within the Los Angeles metro.
Totaling 43,154 square feet, the properties include:
• 14943 Califa St., Van Nuys, California | 10,000 square feet
• 15044 Keswick St., Van Nuys, California | 27,566 square feet
• 14932 Oxnard St., Van Nuys, California | 6,081 square feet
Northmarq arranged financing on behalf of the borrower through a correspondent relationship with a life insurance company. The transaction was structured on a ten-year term.
“Despite one of the properties having experienced a loss of a key tenant, we were able to get the lender to keep the original deal and close,” Klyne said.
14943 Califa St. is a single-tenant industrial flex/showroom property built in 1955 and situated on a 0.33-acre site. The asset features a one-story design supporting a range of showroom, warehouse and light manufacturing uses.
15044 Keswick St. is a single-tenant industrial flex/showroom property built in 1969 and situated on a 1.48-acre site. The property's significant land area allows it to support a variety of industrial and showroom uses.
14932 Oxnard St. is a single-tenant industrial property situated on approximately 0.65 acres. The light industrial asset offers space that can accommodate a variety of industrial users.
Collectively, the three properties benefit from their locations in Van Nuys within the San Fernando Valley, one of Southern California's most established infill industrial markets. The submarket continues to attract tenant demand due to its central position within the Los Angeles metro, limited industrial inventory and proximity to major population, transportation and employment centers.
Meet our team
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 $80 billion and has completed $91.3 billion in transactions over the past four years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
