NorthMarq Capital arranges $6.75 million refinance of AmeriCold building in Salt Lake City, Utah
AmeriCold
LOS ANGELES (June 16, 2014) – Robert Hervey, executive vice president/managing director of NorthMarq Capital’s Los Angeles based regional office secured the $6.75 million refinance of a 242,405 sq.ft. AmeriCold Industrial Cold Storage building located at 1646 South 4490 West, Salt Lake City, Utah. 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. “This was a very low-leverage loan on a class “A” cold-storage distribution building with a very strong borrower, resulting in very good loan terms,” 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.
