NorthMarq Capital arranges $7.15 million refinance for Tide Court Industrial in Woodland, California
Tide Court Industrial
LOS ANGELES (December 16, 2014) – Robert R. Hervey, executive vice president/managing director of NorthMarq Capital’s Los Angeles based regional office finalized the $7.15 million refinance of Tide Court Industrial, a 432,000 sq.ft. property located at 1685 Tide Court in Woodland, California. The transaction was structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. The building is 83 percent leased of which 15 percent is on month-to-month tenancy. With a conservative loan amount and a strong borrower, the lender was able to close the loan without leasing escrows. Major tenants include Clark-Dietrich Building Systems LLC and Johnston’s Trading Post, Inc. “The borrower is strong and very experienced in the ownership and management of bulk industrial buildings,” said Hervey. “That, combined with a great existing relationship with the lender, made this a good deal for all parties involved.”
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.
