NorthMarq Capital’s Los Angeles office arranges $7.25 million refinance of industrial building located in American Canyon, California
LOS ANGELES (December 13, 2016) – Robert R. Hervey, executive vice president/managing director of NorthMarq Capital’s Los Angeles-based regional office, secured the $7.25 million refinance of a 150,080 sq. ft. single tenant industrial building located at 880 Hanna Drive in American Canyon, California. The transaction was structured with a 10-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. The building is occupied by Western Wine Services, Inc. “The existing relationship between the strong borrower and a correspondent life insurance company lender made this transaction a good fit for both,” 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.
