Salt Lake City office arranges $4.37 million in SBA construction financing for a climatized self-storage facility in Heber, Utah
Climatized Self-Storage Facility
SALT LAKE CITY (July 3, 2017) Salt Lake City’s production team arranged financing of $4,370,000 for Midway Storage, a climatized self-storage property located in Heber, Utah. The transaction was structured with a 25-year term on a 25-year amortization schedule. Salt Lake City arranged SBA financing for the borrower through its relationship with a regional bank. “Loan proceeds were a critical factor in the success of this project and we were able to secure an 85 percent loan to cost for our client,” said Pinnock.
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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.
