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