Northmarq secures $6.4 million refinance for Central Pike Industrial in Nashville MSA

Central Pike Industrial
Central Pike Industrial

BOISE, Idaho (Feb. 7, 2024) — Steve Hollister, senior vice president in Northmarq’s Boise office, arranged a $6,400,000 cash out refinance of Central Pike Industrial, a 68,450 sq. ft. flex-industrial business park located in Hermitage, Tennessee. The financing was structured on a five-year fixed rate maturing bridge loan with a five-year fixed-rate, non-recourse loan followed by a 30-year amortization schedule. Northmarq arranged the financing through its correspondent relationship with a life insurance company.

“Northmarq’s life insurance partner clinched the deal by offering a compelling package, including a competitive interest rate, flexible prepayment options – yield maintenance for the first two years, followed by a fixed stepdown of 3% to 1%,” said Hollister. “These updated terms seamlessly align with the borrower’s business plan.

“Additionally, we were confident that the lender would provide surety of execution which was important given the current loan was maturing. The lender closed on time, as planned, and without issue at year-end with the assistance of Northmarq’s Nashville office.”

The three-building complex was built in 1988 and purchased by the sponsor in 2021. The existing debt that was refinanced was $6,000,000.

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit:

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