NorthMarq Capital’s Los Angeles office secures $5.3 million in financing for two industrial buildings
Two Industrial Buildings
LOS ANGELES (December 1, 2015) – Robert R. Hervey, executive vice president/senior managing director of NorthMarq Capital’s Los Angeles regional office arranged refinancing for two industrial buildings in California’s Inland Empire. The transactions were structured with a 7-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. The first loan was $1.8 million and was arranged for a 51,020 sq. ft. industrial building located at 10215 San Sevaine in Jurupa Valley, California. The second loan was $3.5 million and was arranged for an 118,615 sq. ft. industrial building located at 10955 Arrow Route in Rancho Cucamonga, California. “The security for each loan is an industrial building occupied with a single non-credit tenant,” said Hervey. “The great relationship with a strong and experienced borrower and correspondent lender facilitated these low-leveraged transactions.”
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.
