NorthMarq Capital’s Los Angeles office arranges $8.3 million refinance of City Self Storage in Van Nuys, California
City Self Storage
LOS ANGELES (July 20, 2015) – Daniel McCarthy, senior vice president/senior director of NorthMarq Capital’s Los Angeles based regional office arranged the $8.3 million refinance of City Self Storage, a 73,066 sq.ft. self-storage facility located at 7346 Sepulveda Boulevard in Van Nuys, California. The transaction was structured with a 10-year interest only term. NorthMarq arranged financing for the borrower through its relationship with a CMBS lender. “The borrower was insistent on getting 10 years of interest only as they had this type of structure on other properties,” noted McCarthy. “We were fortunate the markets cooperated and we were able to accomplish that goal for them.”
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.
