NorthMarq Capital arranges three transactions totaling $29.061 million

LOS ANGELES (November 20, 2014) – David R. Blum, senior vice president/senior director of NorthMarq Capital’s Los Angeles based regional office secured financing for three transactions totaling a combined $29.061 million. IBC Industrial Campus: This 178,372 sq.ft. single tenant, four building industrial campus, located at 17522, 17572, 17622 and 17632 Armstrong Avenue in Irvine, California, was refinanced at $20 million. The transaction, a significant cash-out, full leverage refinance, was structured with a 10-year term with 4-years interest only followed by a 30-year amortization schedule. NorthMarq arranged financing for the borrower through a CMBS lender. Pinebrook West Apartments: This 30 unit multifamily property was refinanced at $5.211 million and is located at 35955 Fremont Boulevard in Fremont, California. The transaction, a significant cash-out refinance, was structured with a 7-year term and 30-year amortization. NorthMarq arranged financing for the borrower through its Seller-Servicer relationship with Freddie Mac. Nate Prouty, senior vice president/senior director worked with Blum on the transaction. The Hub: This 12,700 sq.ft. retail property, located at 1060 Harriman Place in San Bernardino, California, was refinanced at $3.85 million. The transaction, defeased the existing loan, was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a CMBS lender. “We were able to close despite a dark anchor tenant,” noted Blum.