NorthMarq’s Randall Waddell completes $10,000,000 refinance of Crossings Center Nine in Louisville, Kentucky
LOUISVILLE, KENTUCKY (May 7, 2019) – Randall Waddell, senior vice president of NorthMarq’s Louisville-based regional office, arranged the $10 million refinance of Crossings Center Nine, a 500,000 sq. ft. bulk distribution property located at Louisville’s premier logistics park, Commerce Crossings Business Park. The permanent-fixed rate loan was structured with a 15-year term on a 20-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.
“Having successfully re-tenanted the building which was originally developed for a single user, the borrower was interested in locking a favorable long-term interest rate at a time of escalating treasury yields in January. The selected lender prevailed by offering to lock a very competitive rate the same day it issued its application, prior to execution of the primary lease,” said Waddell.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
