NorthMarq’s Los Angeles office arranges acquisition financing of $2.4 million for WhiteWater Express Car Wash in Broken Arrow, Oklahoma
LOS ANGELES, CALIFORNIA (December 2, 2019) – David Blum, senior director of NorthMarq’s Los Angeles office secured $2.4 million in acquisition financing for WhiteWater Express Car Wash. The property is located at 2300 West Kenosha Street in Broken Arrow, Oklahoma.
Financing Details:
- 10-year term
- 30-year amortization schedule
- Permanent-fixed loan
- NorthMarq arranged financing for the borrower through its relationship with a credit union.
- The transaction featured a zero percent pre-payment penalty.
Property Details:
- The retail property contains 5,054 sq. ft.
- Lot size is 2.78 acres with 440 feet of frontage on Kenosha Street.
- The property was rebranded and renovated in 2019.
Producer Quote:
“The property is a single-tenant car wash with a 20-year initial lease term and four 5-year options and a corporate guarantee.”
- David Blum
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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.
