DENVER – NorthMarq Capital’s Denver office arranged permanent financing of $1.2 million for Lock Tight Self-Storage located at 11836 Des Moines Memorial Drive in Seattle, Washington. Constructed in 2003, the property consists of 215 climate-controlled storage units located in two, four-story buildings, one of which includes two apartment units.
Dale Stewart, vice president and Mark Lindgren, investment analyst arranged the non-recourse financing for the borrower through a regional bank based on a 10-year fixed rate and 30-year amortization.
About NorthMarq Capital
NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides mortgage banking and commercial loan servicing in 36 offices coast to coast. With more than $12 billion in annual production volume and servicing a loan portfolio of more than $45 billion, the company offers expertise to borrowers of all size. The company has a long track record of multi-family financing as a Freddie Mac Program Plus™ Seller-Servicer, and through its affiliation with Fannie Mae DUS lender AmeriSphere Multifamily Finance. In addition, NorthMarq has long loan production and loan servicing relationships with more than 50 life companies, many CMBS platforms and hundreds of local, regional and national banks. For more information, please visit www.northmarq.com.