NorthMarq Capital arranges $4.25 million refinance of 4502 Airport Drive Industrial Building in Ontario, California
Airport Drive Industrial Building
LOS ANGELES (April 21, 2014) – Robert R. Hervey, executive vice president/senior managing director of NorthMarq Capital’s Los Angeles based regional office finalized a $4.25 million refinance of a non-recourse loan for an 115,316 sq.ft. non-credit, single-tenant industrial building located at 4502 E. Airport Drive, Ontario, California. The transaction was structured with a 10-year term and 25-year amortization schedule and was arranged for the borrower by NorthMarq through its relationship with a correspondent life company. The Newark Group, Inc. is the tenant. “A long-standing relationship with the borrower and the lender, plus a high quality building in a great industrial location made this transaction highly desirable for the lender and property owner,” said Hervey.
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. For more information, visit www.northmarq.com.
