Industrial - Debt

NorthMarq Capital

NorthMarq Capital’s Los Angeles office arranges $1.94 million in acquisition financing for Upland Industrial in Upland, California

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.  

 

NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through over 300 mortgage banking professionals in regional offices coast-to-coast and services a loan portfolio of more than $52 billion. In select markets, the company offers multifamily and manufactured housing investment sales through NorthMarq Multifamily. As a leader in capital solutions through long-term relationships with life companies, CMBS platforms and local, regional and national banks, the company also has a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. For more information please visit www.northmarq.com.