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