NorthMarq arranges $5 million refinance of industrial property in Poway, California
Multi-Tenant Industrial Building
SAN DIEGO, CALIFORNIA (February 20, 2020) – Steve Hollister, vice president of NorthMarq’s San Diego office secured the $5 million refinance of Pomerado Leasing No. 3, a 101,120 sq. ft. multi-tenant industrial property located at 13250-13350 Gregg Street, Poway, California. The transaction was structured with a 10-year term on a 30-year amortization schedule.
“This was a long-term, fixed rate loan that refinanced the lender’s existing loan. The lender is a top life insurance company for whom NorthMarq represents as a correspondent. They have an excellent relationship with NorthMarq and the borrower and were able to offer very attractive financing terms to keep this loan on their books,” noted Hollister.
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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.
