NorthMarq Capital arranges two loans totaling $29.875 million for two single-tenant bulk-distribution warehouse buildings in American Canyon
Distribution Warehouses
LOS ANGELES (October 12, 2015) – Robert R. Hervey, executive vice president/senior managing director of NorthMarq Capital’s Los Angeles office secured acquisition financing of $29.875 million for two single-tenant bulk-distribution warehouse buildings with a combined 568,700 sq.ft. located at 125 Mezzetta Court and 760 Hanna Drive in American Canyon, California. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a correspondent life insurance company. Both buildings are occupied by the same non-credit tenant, which created the challenge of tenant exposure in a smaller industrial market. “The borrower is strong and experienced in owning and operating single tenant industrial buildings,” explained Hervey. “This lender likes high-quality industrial properties and has an existing relationship with the borrower in another market.”
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.
