Industrial - Debt

NorthMarq Capital

NorthMarq Capital’s New Jersey office arranges acquisition financing of $8.6 million for industrial property in Shiremanstown, Pennsylvania

MORRISTOWN (March 22, 2018) – Gary Cohen, senior vice president/managing director of NorthMarq’s New Jersey regional office, arranged acquisition financing of $8.6 million for a 254,449 sq. ft. multi-tenant distribution warehouse located at 301 Railroad Avenue in Shiremanstown, Pennsylvania (Cumberland County). The transaction was structured with a 5 year fixed rate term, with 2 years of interest only payments followed by a 30 year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a regional bank. Major tenants at the property include: Intelligent Global Pooling Systems, Paint Sundries Solutions, Performance Radiator and John Deere.

“The Borrower is a Connecticut based Fund manager who strictly focuses on acquiring and developing industrial real estate in New Jersey, Pennsylvania and California,” noted Cohen. “NorthMarq was able to help the borrower secure acquisition financing with a regional bank at an attractive rate. The borrower will also have an opportunity to borrower additional funds to help pay for future capital expenditures, leasing commissions and tenant improvements.”

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.