NorthMarq arranges $5 million refinance of industrial property in Poway, California
SAN DIEGO, CALIFORNIA (February 20, 2020) – Steve Hollister, vice president of NorthMarq’s San Diego office secured the $5 million refinance of Pomerado Leasing No. 3, a 101,120 sq. ft. multi-tenant industrial property located at 13250-13350 Gregg Street, Poway, California. The transaction was structured with a 10-year term on a 30-year amortization schedule.
“This was a long-term, fixed rate loan that refinanced the lender’s existing loan. The lender is a top life insurance company for whom NorthMarq represents as a correspondent. They have an excellent relationship with NorthMarq and the borrower and were able to offer very attractive financing terms to keep this loan on their books,” noted Hollister.
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