SAN FRANCISCO (February 9, 2016) – Dennis Williams, senior vice president/managing director of NorthMarq Capital’s San Francisco office, finalized refinancing for two 3 million sq. ft. industrial portfolios totaling a combined $268 million. Industrial Portfolio I: The $141 million refinancing of an 18-property industrial portfolio was structured as a 7-year interest-only loan. The portfolio included 3,312,000 sq. ft. of assets located in multiple states - Texas, Pennsylvania, Florida, Illinois, Colorado, California, New Jersey, Oregon and Nevada. NorthMarq arranged the financing for an institutional borrower through its correspondent relationship with a life insurance company. Major tenants include: Ashley Furniture, Anixter, and US Foods. “The life insurance lender provided a highly structured facility to accommodate the borrower’s need for maximum flexibility,” said Williams. Industrial Portfolio II: The $127 million refinance of this 12-property industrial portfolio was structured with a 5-year interest-only term. The portfolio was comprised of 3,315,000 sq. ft. with properties located in multiple states - Georgia, Illinois, New Jersey, Indiana, California, Tennessee, Arizona, Oregon and Texas. NorthMarq arranged the financing for an institutional borrower through its correspondent relationship with a life insurance company. Major tenants include: Amazon, LG Electronics, and FedEx. “The lender delivered a highly structured facility and locked in an attractive rate during a period of tremendous volatility in the capital market,” said Williams.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
