Salt Lake City office arranges $5.4 million acquisition finance of Towne Storage in West Jordan, Utah
Towne Storage
SALT LAKE CITY (July 11, 2017) Salt Lake City’s production team arranged acquisition financing of $5,400,000 for Towne Storage, a self-storage property located in West Jordan, Utah. The transaction was non-recourse structured with a 10-year term on a 25-year amortization schedule. Salt Lake City arranged financing for the borrower through its relationship with a correspondent life company. “We were able to help our client buy out his partner and secure a long-term, non-recourse loan solution for his acquisition,” said Pinnock.
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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.
