LOS ANGELES (December 13, 2016) – Robert R. Hervey, executive vice president/managing director of NorthMarq Capital’s Los Angeles-based regional office, secured the $7.25 million refinance of a 150,080 sq. ft. single tenant industrial building located at 880 Hanna Drive in American Canyon, 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. The building is occupied by Western Wine Services, Inc.
“The existing relationship between the strong borrower and a correspondent life insurance company lender made this transaction a good fit for both,” said Hervey.
About NorthMarq Capital
NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through its 36 offices nationwide. The company has built long-term relationships with life companies, CMBS platforms and local, regional and national banks, with a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. The company closes more than $12.5 billion in commercial real estate loans annually and services a loan portfolio of more than $47 billion. For more information please visit www.northmarq.com.