NorthMarq Capital’s Denver office arranges $1.65 million financing for Elk Grove Self-Storage in Elk Grove, California
Elk Grove Self-Storage
DENVER (January 29, 2016) – NorthMarq Capital’s Denver office arranged permanent financing of $1.65 million for Elk Grove Self-Storage located at 8585 Elk Ridge Way in Elk Grove, California. Constructed in 1989, the property consists of 248 self-storage units located in eight buildings. Dale Stewart, vice president and Mark Lindgren, investment analyst, arranged the non-recourse financing for the borrower through NorthMarq’s correspondent relationship with a life insurance company. The loan is a 10-year term with a 25-year amortization with a 65 percent LTV.
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.
