Industrial - Debt

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.   

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $16 billion, loan servicing portfolio of more than $65 billion and the multi-year tenure of our nearly 600 people.