NorthMarq Capital arranged $1.5 million mortgage for single tenant office building in Fresno, California
Pence Shaw-Blythe Office Bldg
LOS ANGELES (April 8, 2013) – Robert Hervey, executive vice president and managing director of NorthMarq’s Los Angeles regional office, arranged acquisition financing of $1.5 million for 5168 N. Blythe in Fresno, California. This asset is an 18,640 sq. ft. single-tenant office building fully leased to Families First. Financing was based on a 10-year term and a 20-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a correspondent life company lender. “This transaction is the refinancing of an existing loan with the existing lender. The original loan was fully amortizing, but the Note contained an open period that allowed the refinancing,” said Hervey. “The good relationship between the borrower and the lender made this single-tenant office building refinancing relatively straight forward.”
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.
