Northmarq’s Los Angeles office secures $8.5M in financing for single-tenant industrial property
Mason Industrial
CHATSWORTH, Calif. — Vice President Karl Weidell of Northmarq’s Los Angeles office successfully arranged the $8.5 million refinance of a 154,486-sq.-ft. industrial building located at 9151 Mason Ave. in Chatsworth, California. The single-tenant property was built in 1983 and is situated on 6.63 acres.
Northmarq arranged financing on behalf of the borrower, a Beverly Hills-based developer, through a correspondent relationship with a life insurance company. The transaction was structured on a 10-year term with a 30-year amortization schedule.
“Another great example of how Northmarq’s life company network continues to provide best in class spreads/pricing on a nonrecourse basis,” said Weidell.
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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.
