February 10, 2017
NorthMarq Capital arranged the $65 million refinance of three Inland Empire industrial properties totaling 1.6 million square feet. The transaction was structured with a 10-year term on a 30-year amortization schedule.
The assets include 5772 East Jurupa St. and 5555 East Jurupa St. in Ontario, CA and 3100 Milliken Ave. in Mira Loma, CA. NorthMarq arranged financing for the privately-held, family company borrower through its correspondent relationship with Hartford.
NorthMarq Capital’s Michael T. Elmore arranged the financing.
Elmore said, “Hartford recapitalized this portfolio, simplified the diligence and closing process, and did a forward rate-lock to the par-window. The new 10-year rate is 3.65%, which is substantially below market today.”
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