NorthMarq Capital’s Los Angeles office completes $5.9 million refinance of Simi Valley Business Center in Simi Valley, California
Simi Valley Business Center
LOS ANGELES (January 30, 2017) – Michael T. Elmore, executive vice president/managing director of NorthMarq Capital’s Los Angeles-based regional office, finalized the $5.9 million refinance of Simi Valley Business Center, an 82,237 sq. ft. industrial property located at 74, 80, 90, 94 and 98 West Cochran Street in Simi Valley, California. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with Chase Bank. “Chase provided five separate loans which can be assumed or paid-off individually,” said Elmore. “This will allow the borrower to sell an individual building to owners/users, investors or existing members of the LLC.”
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.
