NorthMarq Capital arranges $5.5 million mortgage for Mission Mill Road Industrial in Whittier, California
Mission Mill Road Industrial
LOS ANGELES (September 16, 2013) – Michael Elmore, EVP/ managing director, and Daniel McCarthy, SVP/Senior Director, of NorthMarq’s Los Angeles regional office, arranged first mortgage refinancing of $5.5 million for 9950 & 10050 Mission Mill Road in Whittier, California. The properties contain a combined total of 124,265 sq. ft. of industrial space. Einstein and Noah Corp. and Giant Union are major tenants at the site. Financing was based on a 12-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a non-correspondent life company lender. “The borrower was under a short time frame to get loan refinancing or there would have been significant penalties; the lender was able to deliver in less than 45 days from application,” McCarthy said.
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.
