Ory Schwartz, managing director of Northmarq’s Debt + Equity teams in Los Angeles and Miami, successfully secured a $5 million refinance for an industrial property located in Ontario. The 115,316-square-foot facility was built in 1989 on a 4.99-acre lot at 4502 E. Airport Dr.
Through a correspondent relationship with a life insurance company, Northmarq arranged financing for the borrower – an owner based in Los Angeles. The transaction was structured with competitive pricing on a term of ten years and an amortization schedule of thirty years.
Schwartz stated that despite the loan being relatively small, they were able to achieve favorable pricing due to the asset’s location and conservative loan amount as well as their strong relationship with this particular lender.
The article “Ontario Warehouse Secures Refi Through Life Company” originally appeared on Connect CRE.
