Ory Schwartz of NorthMarq’s Los Angeles office negotiates $3.5 million permanent loan for Hanrahan Building in Sacramento, California
Hanrahan Building
LOS ANGELES, CALIFORNIA (January 31, 2019) – Ory Schwartz, senior vice president/managing director of NorthMarq’s Los Angeles office, arranged the $3.5 million permanent-fixed loan for Hanrahan Building, a 38,215 sq. ft. office property located at 1225 8th Street in Sacramento, California. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.
“NorthMarq arranged a permanent loan that refinanced the existing loan that NorthMarq placed on the property in 2014. The Sacramento market has improved significantly over the past several years, which enabled the borrower to pull out some cash and put a longer term fixed rate loan on the property,” said Schwartz.
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.
