SALT LAKE CITY, UTAH (December 10, 2020) — Nate Barnson, senior vice president/managing director of NorthMarq’s Salt Lake City office arranged the $165 million debt package for three industrial build-to-suit properties. The properties, containing a combined 583,000 sq. ft. are located in the Salt Lake City MSA and will house a distribution company’s operations. NorthMarq arranged financing (with equity coming from partnerships with the developer) through its relationship with a regional bank.
“The developer has a long track record of successful projects, becoming a preferred developer in the SLC market,” said Barnson. “That success made the projects attractive to outside investors.”