Industrial - Debt

NorthMarq Capital arranged $4.635 million mortgage for Lake Forest Industrial Park in Lake Forest, California

LOS ANGELES (January 16, 2013) – Michael Elmore, executive vice president and managing director of NorthMarq’s Los Angeles regional office, arranged first mortgage refinancing of $4.635 million for Lake Forest Industrial Park, a 74,314 sq. ft. industrial park located in Lake Forest, California. Financing was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a national bank. “The bank provided a seven-year fixed-rate loan at 4.15% with a flexible prepayment schedule,” said Elmore. “This lowered the borrower’s finance cost by nearly 3% annually.”

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.