Search
 

Capital Flows for Industrial, Office and Multifamily

SAN FRANCISCO—NorthMarq Capital closed refinancing for two 3-million-square-foot industrial portfolios totaling a combined $268 million, along with an office and multifamily loans.

By Lisa Brown | lisabrown | Updated on February 24, 2016

Cupertino City Center Cupertino City Center has been occupied since it was built, which allowed Allianz to provide competitive terms for the blend extend refinancing.

SAN FRANCISCO—One loan required flexibility and the other needed to lock in an attractive rate during a period of tremendous volatility in the capital market. In the end, lenders delivered highly structured facilities for a combination portfolio spanning several states. The two 3 million-square-foot industrial portfolios were refinanced for a combined total of $268 million.

Industrial Portfolio I, the first loan, was a $141 million refinancing of an 18-property industrial portfolio, structured as a seven-year interest-only loan. The portfolio included 3.312 million square feet of assets located in Texas, Pennsylvania, Florida, Illinois, Colorado, California, New Jersey, Oregon and Nevada. Dennis Williams, senior vice president/managing director of NorthMarq Capital‘s San Francisco office, finalized refinancing for an institutional borrower through a correspondent relationship with a life insurance company. Major tenants include Ashley Furniture, Anixter and US Foods.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.