Northmarq’s Nashville office secures $4.745 million acquisition loan for mission-critical industrial property
NASHVILLE (Nov. 8, 2023) — Northmarq’s Nashville Debt + Equity team of Jesse Lemos, senior vice president, and William Rhett, vice president, have secured the $4.745 acquisition loan for a manufacturing facility located at 109 Wabash Ave. in Reisterstown, Maryland. The property is triple net leased to Raloid Corporation, a mission-critical manufacturer for the defense and aerospace industry. Northmarq secured financing for the borrower through its correspondent relationship with a life insurance company. The transaction was structured on a five-year term, 25-year amortization, a step-down prepayment penalty and non-recourse.
“This project was a great asset for the borrower and lender due to the tenant being in place for over 50 years and having a very solid track record,” said Lemos.
Raloid has operated at the property for 53 years, which serves as their sole facility for manufacturing complex components for critical defense and aerospace programs. The 93,000-sq.-ft. industrial property was built in 1952 and renovated in 2010. The building features 20-foot clear heights, one drive-in door, one oversized loading dock and a freight elevator.
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