Industrial - Debt

NorthMarq arranges acquisition financing of $3.8 million for industrial building in Corona, California

LOS ANGELES, CALIFORNIA (December 2, 2019) – David Blum, senior director of NorthMarq’s Los Angeles office secured $3.8 million in acquisition financing for an industrial Building. The property is located at 2365 Railroad Street in Corona, California. 

Financing Details:
– 10-year term
– 25-year amortization schedule
– NorthMarq arranged the permanent-fixed loan for the borrower through its correspondent relationship with a life insurance company.
– This was a sale-leaseback for a single tenant. 

Property Details:
– Concrete tilt-up industrial building constructed in 1998, situated on a 2.27 acre parcel
– The property is 100 percent occupied by a single tenant who has occupied the building since 2003.  
– Total office area is approximately 5,000 sq. ft.  
– There are three ground level doors and one interior truck well. Clear height is 26′ and the building is fully sprinklered.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.