February 29, 2016

NorthMarq Capital’s Los Angeles office negotiates $6.6 million refinance of Inland Empire Distribution Center in Rancho Cucamonga, California

Inland Empire Distribution Center

Debt & Equity

Multi-Tenant

LOS ANGELES (February 29, 2016) – Michael T. Elmore, executive vice president/managing director of NorthMarq Capital’s Los Angeles regional office arranged the $6.6 million refinance of Inland Empire Distribution Center, a 177,744 sq. ft. industrial property located in Rancho Cucamonga, California. The transaction was structured with a 20-year fully amortizing term. NorthMarq arranged financing for the borrower through its correspondent relationship with Nationwide Life, who had a great economic execution and allowed the borrower to pull out cash on a post-acquisition basis. “The borrower purchased the asset all cash as part of a 1031 exchange and refinanced it post-closing with Nationwide Life,” said Elmore. “The asset is 100 percent leased with below market rents which will be rolled up to market. Nationwide recognized the value-add opportunity and provided a 20-year loan to this repeat client.”

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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of more than $52 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.