NorthMarq Capital arranges three transactions totaling $29.061 million
Three Transactions
LOS ANGELES (November 20, 2014) – David R. Blum, senior vice president/senior director of NorthMarq Capital’s Los Angeles based regional office secured financing for three transactions totaling a combined $29.061 million. IBC Industrial Campus: This 178,372 sq.ft. single tenant, four building industrial campus, located at 17522, 17572, 17622 and 17632 Armstrong Avenue in Irvine, California, was refinanced at $20 million. The transaction, a significant cash-out, full leverage refinance, was structured with a 10-year term with 4-years interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through a CMBS lender. Pinebrook West Apartments: This 30 unit multifamily property was refinanced at $5.211 million and is located at 35955 Fremont Boulevard in Fremont, California. The transaction, a significant cash-out refinance, was structured with a 7-year term and 30-year amortization. NorthMarq arranged financing for the borrower through its Seller-Servicer relationship with Freddie Mac. Nate Prouty, senior vice president/senior director worked with Blum on the transaction. The Hub: This 12,700 sq.ft. retail property, located at 1060 Harriman Place in San Bernardino, California, was refinanced at $3.85 million. The transaction, defeased the existing loan, was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a CMBS lender. “We were able to close despite a dark anchor tenant,” noted Blum.
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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.
