PARSIPPANY, N.J. (April 21, 2014) – Greg Nalbandian, senior vice president/managing director of NorthMarq Capital’s New Jersey regional office closed a $10.2 million financing for the acquisition of a 217,620 sq. ft., Class-A single tenant warehouse/distribution center located at 1500 Harris Road, Libertyville, IL. Working exclusively with the NJ based borrower, NorthMarq structured the loan with a 12-year term and 25-year amortization at a very attractive interest rate through its relationship with correspondent life company, Genworth Financial. “Given the single tenant, non-credit nature of the transaction combined with the maximum LTV request, most life companies either passed or would only consider a much more conservative leverage with a quicker amortization,” said Nalbandian. “Genworth took the time to travel to Chicago to tour the asset and fully understand the relevance of this building to the tenant’s overall business operation. In doing so, the sponsor’s financial objectives were met and Genworth was able to place an attractive loan in its portfolio with a target borrower.”
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.
