April 29, 2013

NorthMarq Capital arranged $4.975 million mortgage for 275,000 sq. ft. industrial building in Des Moines, Iowa

DM Warehouse

Debt & Equity

Multi-Tenant

OMAHA (April 29, 2013) – Gary Rifkin, senior vice president of NorthMarq’s Omaha regional office, arranged first mortgage refinancing of $4.975 million for an industrial building containing 274,332 sq. ft. of bulk warehouse space. The property is located at 1550-1600 East Washington Avenue in Des Moines, Iowa. Communications Data Services is the major tenant at the site. Financing was based on a 7-year term and a 25-year amortization schedule and was arranged for the borrower by NorthMarq through its relationship with a correspondent life company lender. “The lender was very knowledgeable about the product and very easy to work with through the loan process,” Rifkin said.

Available Industrial properties

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.