Northmarq secures $18M refinance of a 2-property industrial portfolio in Las Vegas, NV

Industrial portfolio
An industrial builing in Las Vegas.

LAS VEGAS (Sept. 24, 2024) — Northmarq Managing Director David Blum with the Newport Beach Debt + Equity team successfully arranged the refinance of an industrial portfolio consisting of two warehouses totaling over 246,000 sq. ft. in Las Vegas, Nevada.

“We were able to structure a cash-out refinance request on these two very high-quality industrial assets for our client,” said Blum.

Northmarq secured the permanent fixed-rate loan for the borrower through its correspondent life company lender. The transaction was structured on a seven-year, interest-only term, well below 6.0%.

The first industrial warehouse, built in 1992, sits on a 7.5-acre lot located on Pilot Road in Las Vegas. The current tenant is a vitamin and supplements retail and e-commerce store. The second location, built in 2017, is located on East Craig Road and sits on 5.5 acres. The tenant is a fabric/linens supplier.

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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.
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