Industrial - Debt

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.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.