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