Northmarq’s Newport Beach Debt + Equity team led by Scott Botsford and Joe Giordani secured $52 million in financing for MCA Freeway Industrial Park in Riverside. The team arranged the external refinance through its correspondent life insurance company network on behalf of borrower MCA Realty. Northmarq originated and will service the loan.
The transaction was structured on a sub-6% fixed-rate, five-year term with partial interest-only, and a substantial cashout. “Our team was really excited about this execution,” said Botsford. “The combination of proceeds, spread, interest-only terms, and a par lender structure just felt like an all-around great loan for our client.”
Located at 1600-2060 Chicago Ave. and 1614-1616 Marlborough Ave., MCA Freeway Industrial Park contains 17 buildings totaling 481,201 square feet. The property offers exceptional freeway access, according to Northmarq. It’s leased to a diverse mix of 120 tenants. Suite sizes at the property range from 1,075 to 23,477 square feet.
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