Industrial - Debt

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

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.

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.