Retail - Debt

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

As a capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of more than $14 billion, loan servicing portfolio of more than $61 billion and the multi-year tenure of our nearly 600 people.