Northmarq secures $75,000,000 million construction loan for Copper Crossing 7 in Salt Lake City, Utah
SALT LAKE CITY, UTAH (May 2, 2022) – Nate Barnson, managing director in Northmarq’s Salt Lake City office, negotiated the $75,000,000 new construction loan for the Class-A industrial facility. The 655,360 sq. ft. structure is part of the larger master planned 485-acre logistics and manufacturing park, Copper Crossing at I-80. The park is located directly south of I-80 and within minutes of the Salt Lake City International Airport. The transaction was structured with a 12-year term on a 30-year amortization schedule after 4-years interest only and was arranged through one of Northmarq’s banking relationships.
Copper Crossing at I-80 will have 13 buildings at full build out with sizes ranging from 30,000 – 1,000,000 sq. ft. It is currently the only project in town offering rail-served sites with future plans for electric car and semitractor charging facilities.
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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.
