Arranges $3.9 million refinance of CNS storage in Chicago, Illinois and Schereville Storage in Indiana
CNS and Schereville Storage
NEW YORK (June 23, 2014) – Elliot Auerbacher, vice president of NorthMarq Capital’s New York metro based office secured the $3.9 million refinancing of CNS and Schererville Storage, two properties that combined are 664-units of self-storage, located at 5035 W. Foster Avenue in Chicago, Illinois and Rte. 30 in Schererville Indiana. The transaction was structured with a 10-year term and 30-year amortization schedule and was arranged for the borrower, an affiliate of HAN Capital Group LLC by NorthMarq through its relationship with a CMBS lender. “There was a small window of opportunity for the existing loan to be paid off,” said Auerbacher. “The borrower and lender worked in perfect concert together to achieve a mutually beneficial transaction.”
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.
