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