- $10,000,000 Non-Recourse Loan
- 10-Year Term, 25-Year Amortization
- 105,821 SF Multi-Tenant Flex Industrial Center
- 94% Occupancy at Funding
Newmark Realty Capital, Inc. has arranged the refinancing for North Canyon Business Center, a 105,821 square foot multi-tenant flex industrial business center situated on approximately 7.89 acres in Livermore, California. Mitch Zeemont, Principal in Newmark’s San Francisco office, assisted by Production Associate Stephen Scarpulla, arranged the financing for the borrower, a Pleasanton based, family run real estate investment company with Lincoln Financial Group. All other terms and conditions were not disclosed.
The subject property is located in the City of Livermore, located on the eastern edge of California’s San Francisco Bay Area, with a population of over 81,000 people. The Livermore Valley is located about 30 miles east of and behind the first coastal range of mountains that surround the San Francisco Bay Area. Livermore is considered part of the Tri-Valley area, including Amador, Livermore and San Ramon, all of which are part of Alameda County. The property is located near I-580, a crucial artery that facilitates commerce and traffic from the San Francisco Bay Area to Central California.
Newmark Realty Capital, Inc. is a full service mortgage banking firm with a strong lineup of correspondent lenders utilizing Newmark’s production, closing and servicing capabilities. Established in 1991, Newmark is currently staffed by over 60 employees in regional offices throughout the western United States. The company services over $8 billion representing 1,000 loans. Newmark has been rated as a Primary Servicer by Standard and Poor’s and is one of a select few non-banking / non-insurance chartered companies with this designation.