NorthMarq Capital’s Boston office arranges acquisition financing of $44 million for industrial portfolio in Illinois
Industrial Portfolio
BOSTON (March 15, 2018) – Michael Chase, senior vice president and Eric Raiche, investment analyst at NorthMarq Capital’s Boston regional office, arranged acquisition financing of $44 million for a collection of ten industrial properties totaling a 1,101,426 sq. ft. located throughout Lake and DuPage Counties. The portfolio had previously been a long-term investment of John Hancock’s. The transaction included a long-term fixed rate with interest only for the full loan term. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. “The portfolio is concentrated in two primary infill submarkets within Chicago with historic resiliency, high barriers to entry and strong demand from a diverse array of industries,” noted Chase. “We were pleased to be able to deliver on the needs of a long-time client and be able to provide a high certainty of execution during a compressed closing timeframe.”
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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.
