NorthMarq Capital arranges $5.6 million in acquisition financing for industrial property in Fontana, California
Fontana Industrial
LOS ANGELES (December 10, 2014) – Michael T. Elmore, executive vice president/managing director of NorthMarq Capital’s Los Angeles based regional office secured acquisition financing of $5.6 million for Fontana Industrial, a 136,280 sq.ft. industrial property located at 11440 Pacific Avenue in Fontana, California. The transaction, locked at just over 4%, was structured as a 20-year fully amortizing loan. NorthMarq arranged financing for the borrower through its correspondent relationship with a Nationwide Life. The life company completed this purchase money loan in 40 days to accommodate a hard purchase date of December 5. “Nationwide once again executed a great economic deal for a client on a very short hard deposit time line,” said Elmore.
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.
