Industrial - Debt

NorthMarq Capital arranged $6.65 million mortgage for Chino Industrial Building in Chino, California

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.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.