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Ontario Warehouse Secures Refi Through Life Company
Ory Schwartz, managing director of Northmarq’s Los Angeles and Miami Debt + Equity teams, secured a $5-million refinance for a 115,316-square-foot industrial property in Ontario. Built in 1989, the industrial – bulk facility is situated on 4.99 acres at 4502 E. Airport Dr.
Northmarq arranged financing on behalf of the borrower, a Los Angeles-based owner, through a correspondent relationship with a life insurance company. The transaction was structured on a 10-year term with a 30-year amortization schedule.
“Despite the relatively small size of the loan, we were able to achieve competitive pricing based on the location of the asset, the conservative nature of the loan amount and Northmarq’s relationship with this particular lender,” said Schwartz.
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- ◦Financing
