NorthMarq arranges $165 million in financing for three industrial build-to-suit properties in Salt Lake City
Three Industrial Properties
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."
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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.
