NorthMarq Capital’s Los Angeles office arranges $1.94 million in acquisition financing for Upland Industrial in Upland, California
Upland Industrial
LOS ANGELES (November 7, 2018) – David Blum, senior director of NorthMarq Capital’s Los Angeles regional office, secured acquisition financing of $1.94 million for Upland Industrial, a 30,639 sq. ft. industrial property located at 1701 West Foothill Boulevard in Upland, California. The permanent-fixed loan was structured with a 10-year term on a 30-year amortization schedule and no pre-payment penalty. NorthMarq arranged financing for the borrower through its relationship with a credit union.
We were able to overcome the current vacancy and environmental challenges,” said Blum.
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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.
