NorthMarq Capital’s San Diego office arranges acquisition financing of $4.6 million for Garrison Business Park in Denver, Colorado
Garrison Business Park
SAN DIEGO (March 21, 2016) – Aaron Beck, vice president of NorthMarq Capital’s San Diego based regional office arranged acquisition financing of $4.6 million for Garrison Business Park, a 49,000 sq. ft. light industrial/flex property located in Denver, Colorado. The transaction was structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. “The borrower requested a unique loan structure to satisfy 1031 exchange requirements. We were able to accommodate the request through our close relationship with a correspondent life insurance company that provided an initial funding of $2.6 million and a future funding in six-to-nine months for the balance of the total commitment,” said Beck. “The negotiated loan allowed the borrower to lock the rate at the time of application for both the initial and future fundings.”
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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.
