Northmarq finalizes $8.9 million acquisition loan for Lake Erie Industrial Complex
MINNEAPOLIS (Feb. 5, 2024) — Andy Finn, managing director of Northmarq’s Minneapolis Debt + Equity office, has collaborated with Noah Juran of the Cincinnati office and Mark Jeffries of Denver to finalize $8.9 million in acquisition financing for a 559,000-sq.-ft. industrial facility in Lakewood, Ohio. Built in 1914 and renovated in 1988, the 6-building flex/showroom property is situated on 17.4 acres with approximately 445,394 rentable sq. ft.
Northmarq arranged financing on behalf of the borrower, through its correspondent relationship with a life insurance company. The permanent fixed-rate loan was structured on a 20-year term followed by a 20-year amortization schedule.
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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 an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
