NorthMarq’s Ory Schwartz arranges $13 million refinance of industrial property located in Fairfield, California
Watney
LOS ANGELES, CALIFORNIA (June 20, 2019) – NorthMarq Los Angeles’ Senior Vice President/Managing Director Ory Schwartz secured the $13 million refinance of Watney, a 348,500 sq. ft. single-tenant industrial property located at 2425 South Watney Way in Fairfield, California. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.
“Despite the single tenant nature of this loan request, numerous life companies were interested in providing competitive quotes given the leverage point and the strength of the Fairfield industrial market,” said Schwartz.
About Northmarq
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.
