NorthMarq Capital’s San Diego office arranges acquisition financing of $4.6 million for Garrison Business Park in Denver, Colorado

SAN DIEGO (March 21, 2016) – Aaron Beck, vice president of NorthMarq Capital’s San Diego based regional office arranged acquisition financing of $4.6 million for Garrison Business Park, a 49,000 sq. ft. light industrial/flex property located in Denver, Colorado. The transaction was structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. “The borrower requested a unique loan structure to satisfy 1031 exchange requirements. We were able to accommodate the request through our close relationship with a correspondent life insurance company that provided an initial funding of $2.6 million and a future funding in six-to-nine months for the balance of the total commitment,” said Beck. “The negotiated loan allowed the borrower to lock the rate at the time of application for both the initial and future fundings.”