NorthMarq Capital secures $13.665 million in acquisition financing for three industrial buildings in Poway, California
Three Industrial Buildings
SAN DIEGO – Steve Hollister, senior vice president of NorthMarq Capital’s San Diego based regional office arranged acquisition financing of $13.665 million for a three-building industrial portfolio comprising 389,401 sq.ft., located in Poway, California. The transaction was structured with a 15-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a correspondent life insurance company. “The lender won the deal based upon a strong existing relationship with the borrower and the most competitive rate,” said 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.
