ST. LOUIS, MISSOURI (July 24, 2019) – Northmarq’s St. Louis office secured acquisition financing of $3 million for Fort Dearborn Company Building. The 87,507 sq. ft. manufacturing facility property is located at 6880 Heege Road on 5.78 acres in St. Louis, Missouri. The transaction was structured with a 10-year term on a 20-year amortization schedule. NorthMarq arranged the non-recourse loan for the borrower, the White Company, through its relationship with a correspondent life insurance company.
“Northmarq’s exclusive correspondent life insurance company was able to lock in a 10-year fixed rate with a 20-year amortization schedule on a non-recourse loan for us. The lender/Northmarq was very responsive and met all timelines associated with our acquisition.”
- Thomas J. White, Jr.; President of The White Company