NorthMarq Capital’s San Francisco office arranges financing for two industrial portfolios totaling $268 million
Two Industrial Portfolios
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.
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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.
