LOS ANGELES (April 22, 2015) – Robert R. Hervey, executive vice president/senior managing director of NorthMarq Capital’s Los Angeles regional office arranged the $10 million refinance of a 154,456 sq.ft. industrial building located at 9151 Mason Avenue in Los Angeles, California. The transaction was structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with Nationwide Life Insurance Company. The property’s tenants include: Portion Pac and MVL Productions.
“The borrower is strong and experienced in this product type,” noted Hervey. “They have a long-standing relationship with this lender which helped the transaction to close smoothly.”