NorthMarq Capital finalizes acquisition financing of $12.2 million in Temecula, California
Industrial Property
SAN DIEGO (November 10, 2014) – Steve Hollister, senior vice president of NorthMarq Capital’s San Diego based regional office negotiated the $12.2 million financing for the acquisition of a 228,912 sq.ft. industrial property located in Temecula, California. The transaction was structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. “The lender won the deal by providing 70 percent loan-to-purchase price financing at a very competitive rate,” said Hollister.
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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.
