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.
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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
