Industrial - Debt

NorthMarq Capital arranges $3 million refinancing of Ontario Industrial Building located in Ontario, California

LOS ANGELES (October 9, 2013) – Michael Elmore, executive vice president/managing director of NorthMarq’s Los Angeles regional office, arranged refinancing of $3 million for the 102,168 sq.ft. Ontario Industrial Building, located at 1310 South Cucamonga Avenue, Ontario, CA . Financing was based on a 10-year term and a 25-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a national bank. The financing featured no recourse and no warm body carve outs and cash out with a 50% increase in loan amount with no change to payments. The structure is an older building with a short term lease and no structure for rollover.

“The lender once again provided an excellent economic loan with minimal costs and no structure,” said Elmore.

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.