August 20, 2013

NorthMarq Capital arranged $26.75 million mortgage for Unical Industrial Building in City of Industry, California

Unical Industrial Building

Debt & Equity

Multi-Tenant

LOS ANGELES (August 20, 2013) – Michael Elmore, executive vice president and managing director of NorthMarq’s Los Angeles regional office, arranged acquisition financing of $26.75 million for the Unical Industrial Building located at 680 S. Lemon Avenue in City of Industry, California. This asset is an owner-user property containing 472,876 sq. ft. of industrial space. Financing was based on a 17-year term and a 17-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a correspondent life company lender. “The buyer had a below market purchase option within a 2009 lease and had invested significant capital in upgrading the building; the lender financed 100% of the option purchase price but only 55% of the fair market value,” Elmore said.

Available Industrial properties

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.