Industrial - Debt

NorthMarq Capital

NorthMarq Capital’s Los Angeles CRE team secures $8.4 million refinance of Etchandy Industrial Complex II in Placentia, California

LOS ANGELES (May 29, 2018) – Michael Elmore, executive vice president/managing director of NorthMarq Capital’s Los Angeles regional office, negotiated the $8.4 million refinance of Etchandy Industrial Complex II, a 165,158 sq. ft. industrial property located at 1901, 1921, 1941, 1961, 1981 Miraloma Avenue and 950 Fee Ana & 1900-40 and 80 Petra Lane in Placentia, California. The transaction was structured with a fifteen year term and 25 year amortization. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.

“NorthMarq provided a 15-year loan on this property after doing two previous 10-year loans. This is an older multi-tenant industrial property, but it still conforms to current zoning, is typically above 95 percent occupied and is an infill industrial location trending towards higher uses,” noted Elmore. “The lender wanted to keep this excellent investment in their portfolio and offered great terms along with a streamline diligence and legal process.”

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.