LOS ANGELES (May 13, 2013) – Michael Elmore, executive vice president and managing director of NorthMarq’s Los Angeles regional office, arranged first mortgage refinancing of $6.65 million for Chino Industrial Building located at 4451 Eucalyptus Drive in Chino, California. The property consists of 161,658 sq. ft. of industrial space. Financing was based on a 20-year term and a 20-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a correspondent life company lender. The borrower acquired this asset in late 2012 on an all cash basis and then wanted to put conservative long-term debt on it to return some capital in 2013. The carve outs on this nonrecourse loan were executed by a corporate entity and no warm body signatures were required. “Nationwide provided good pricing and excellent execution on this no warm body transaction,” Elmore said.