Ory Schwartz, managing director of Northmarq’s Los Angeles and Miami Debt + Equity teams, successfully secured a $5 million refinance for an industrial property in Ontario. The 115,316-square-foot facility was built in 1989 and sits on 4.99 acres at 4502 E. Airport Dr.
Northmarq arranged financing for the borrower, a Los Angeles-based owner, through a correspondent relationship with a life insurance company. The loan has been structured with a term of ten years and an amortization schedule of thirty years.
According to Schwartz, despite the small size of the loan amount,the team was able to secure competitive pricing due to factors such as the prime location of the asset and their strong relationship with this particular lender.
The article titled “Ontario Warehouse Secures Refi Through Life Company” can be found on Connect CRE.
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