NorthMarq’s Los Angeles office arranges acquisition financing of $2.4 million for WhiteWater Express Car Wash in Broken Arrow, Oklahoma

LOS ANGELES, CALIFORNIA (December 2, 2019) – David Blum, senior director of NorthMarq’s Los Angeles office secured $2.4 million in acquisition financing for WhiteWater Express Car Wash. The property is located at 2300 West Kenosha Street in Broken Arrow, Oklahoma. 

Financing Details:
- 10-year term
- 30-year amortization schedule
- Permanent-fixed loan
- NorthMarq arranged financing for the borrower through its relationship with a credit union. 
- The transaction featured a zero percent pre-payment penalty.

Property Details:
- The retail property contains 5,054 sq. ft.
- Lot size is 2.78 acres with 440 feet of frontage on Kenosha Street. 
- The property was rebranded and renovated in 2019.

Producer Quote:
“The property is a single-tenant car wash with a 20-year initial lease term and four 5-year options and a corporate guarantee.” 

- David Blum