NorthMarq Capital arranges $8 million loan for Western Wine Distribution warehouse in American Canyon, California
Western Wine Distribution
LOS ANGELES (November 24, 2014) – Robert R. Hervey, executive vice president/senior managing director of NorthMarq Capital’s Los Angeles based regional office negotiated the $8 million refinance of a Western Wine Distribution warehouse, a 196,800 sq.ft. industrial property located at 1275 Commerce Boulevard, American Canyon, California. The transaction was structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with Nationwide Life Insurance Company. The building is temperature controlled for wine storage. The high quality tenant leased the building for a relatively long term. “The very strong borrower has a long-term relationship with this lender, which resulted in very good terms,” said Hervey.
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.
