NorthMarq’s Ory Schwartz arranges $13 million refinance of industrial property located in Fairfield, California
LOS ANGELES, CALIFORNIA (June 20, 2019) – NorthMarq Los Angeles’ Senior Vice President/Managing Director Ory Schwartz secured the $13 million refinance of Watney, a 348,500 sq. ft. single-tenant industrial property located at 2425 South Watney Way in Fairfield, California. The transaction was structured with a 10-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.
“Despite the single tenant nature of this loan request, numerous life companies were interested in providing competitive quotes given the leverage point and the strength of the Fairfield industrial market,” 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.
