Northmarq finalizes $8.9 million acquisition loan for Lake Erie Industrial Complex
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.
Meet our team
About Northmarq
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.
