Industrial - Debt

NorthMarq Capital's Boston office arranges $7 million refinance of an industrial property located in Columbus, Ohio

BOSTON (July 2, 2014) – James Murphy, Managing Director of NorthMarq Capital’s Boston based regional office secured a $7 million refinance of 3100 Creekside Drive, a 340,000 sq.ft. industrial property located in Columbus, Ohio. The transaction was structured with a 5-year term and 25-year amortization schedule and was arranged for the borrower by NorthMarq through its correspondent relationship with a life company.

“We are once again thankful for the opportunity to continue our long standing relationship with the client and we were pleased to be able to match them with a capital source that met the borrower’s needs for prepayment flexibility,” said Murphy. “The lender was able to underwrite the single-tenant risk in the transaction by recognizing the strengths of the asset, the prime location and sponsorship.”

Northmarq is an industry-leading capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with an open, flexible structure, enabling our team of seasoned professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of over $30 billion, and loan servicing of nearly $70 billion.