Industrial - Debt

NorthMarq Capital

NorthMarq Capital’s Denver office arranges $1.65 million financing for Elk Grove Self-Storage in Elk Grove, California

DENVER (January 29, 2016) – NorthMarq Capital’s Denver office arranged permanent financing of $1.65 million for Elk Grove Self-Storage located at 8585 Elk Ridge Way in Elk Grove, California. Constructed in 1989, the property consists of 248 self-storage units located in eight buildings.

Dale Stewart, vice president and Mark Lindgren, investment analyst, arranged the non-recourse financing for the borrower through NorthMarq’s correspondent relationship with a life insurance company. The loan is a 10-year term with a 25-year amortization with a 65 percent LTV.

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.