Ory Schwartz of NorthMarq’s Los Angeles office negotiates $3.5 million permanent loan for Hanrahan Building in Sacramento, California
LOS ANGELES, CALIFORNIA (January 31, 2019) – Ory Schwartz, senior vice president/managing director of NorthMarq’s Los Angeles office, arranged the $3.5 million permanent-fixed loan for Hanrahan Building, a 38,215 sq. ft. office property located at 1225 8th Street in Sacramento, California. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.
“NorthMarq arranged a permanent loan that refinanced the existing loan that NorthMarq placed on the property in 2014. The Sacramento market has improved significantly over the past several years, which enabled the borrower to pull out some cash and put a longer term fixed rate loan on the property,” said Schwartz.
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.
