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