January 30, 2017

NorthMarq Capital’s Los Angeles office finalizes $65 million refinance of industrial portfolio in Southern California

Industrial Portfolio

Debt & Equity

Multi-Tenant

LOS ANGELES (January 30, 2017) – Michael T. Elmore, executive vice president/managing director of NorthMarq Capital’s Los Angeles-based regional office, arranged the $65 million refinance of three industrial properties (5772 East Jurupa Street in Ontario, California; 5555 East Jurupa Street in Ontario, California; and 3100 Milliken Avenue in Mira Loma, California) consisting of a combined 1,594,260 sq. ft. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with Hartford. “Hartford recapitalized this portfolio, simplified the diligence and closing process and did a forward rate-lock to the par-window,” explained Elmore. “The new 10-year rate is 3.65 percent, which is substantially below market today.”

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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, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.Northmarq.com.

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