NorthMarq's San Diego office secures $8.2 million refinance of an industrial property located in Poway, California
Industrial Property
SAN DIEGO (September 24, 2017) – Steve Hollister, senior vice president of NorthMarq Capital’s San Diego regional office, arranged the $8.2 million refinance of an 82,640 sq. ft. industrial property located in Poway, 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. General Atomics represents the property’s major tenant. “This deal featured a forward commitment to accommodate the completion of construction and tenant occupancy,” said Hollister. “The rate was locked in January for a funding in August.”
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