NorthMarq’s Newport Beach office arranges $3.92 million acquisition of Elysium Tiles in Palmetto, Florida
NEWPORT BEACH, CALIFORNIA (January 24, 2020) – David Blum, senior vice president/managing director of NorthMarq’s Newport Beach-based regional office negotiated the $3.92 million acquisition for Elysium Tiles. The 131,158 sq. ft. industrial property is located at 2308 U.S. Hwy 301 North in Palmetto, Florida.
“This was a full relocation of a business to the East Coast. It is an owner-user industrial building.”
- David Blum
Financing Details:
- 20-year term
- 20-year amortization schedule
- NorthMarq arranged the permanent-floating loan for the borrower through its relationship with a national bank.
Property Details:
- The subject is an 18.12±-acre parcel improved with a 131,158±-square-foot industrial facility built in 1969 (with several additions over the years).
- The building is a steel frame and metal building on a dock-high foundation, with pitched metal roofs. The main office area is concrete block.
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
