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.