SEATTLE (October 29, 2014) – Bob Spiro, senior vice president/managing director and Chris Pohlad, vice president of NorthMarq Capital’s Seattle based regional office secured financing for two industrial properties totaling a combined $13.9 million.
Desert Business Park II: This 200,000 sq.ft. industrial property, located at 77519-77556 El Duna Court in Palm Desert, California, was refinanced at $12 million. 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.
Plan B Investments: This 56,615 sq.ft. industrial property, located at 5000 South East 18th Avenue in Portland, Oregon, was refinanced at $1.9 million. 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.
