Northmarq’s Chicago office arranges $15.75 million in refinancing of industrial properties in suburban Chicago

Two Industrial Properties
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CHICAGO, ILLINOIS (February 9, 2022) – Jeff Frankel, senior vice president/senior director in Northmarq’s Chicago office, finalized refinancing of two industrial properties totaling a combined 275,254 square feet located in Downers Grove and Mokena, Illinois. The transactions were structured as separate loans ($7.45 and $8.3 million respectively) with a 5-year term on a 30-year amortization schedule. Northmarq arranged the fixed rate loans for the borrower through its correspondent relationship with a life insurance company.

“While we sourced a wide-range of lenders, our correspondent life company relationship had the existing loans and stepped up with very attractive terms to lower the rate, extend the maturity, and increase the loan amounts,” said Frankel. 

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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.
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