(EDITOR’S NOTE: According to public records, Wilbur Parthenia Industrial Park was sold for $17.4 million, or about $200 per square foot.)
LOS ANGELES, CALIFORNIA – Zalmi Klyne, senior vice president of Northmarq’s Los Angeles office, secured $10.5 million in acquisition financing for Wilbur Parthenia Industrial Park. The three-building/86,765 sq. ft. industrial property built in 1980 is located at 8600-8610, 8626 Wilbur Avenue; 8629-8635 Crebs Avenue; and 18840-18850 Parthenia Street in Northridge, California. The permanent-fixed loan was structured with a 10-year term on a 30-year amortization schedule. Northmarq arranged financing for the borrower through its relationship with a commercial bank.
The well-maintained industrial park is conveniently located close to the 405 and 118 Freeways and has newly installed rod-iron perimeter fencing as well as air conditioning.
About Northmarq
As a capital markets leader, Northmarq offers commercial real estate investors access to experts in debt, equity, investment sales and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of $33 billion, loan servicing portfolio of more than $70 billion and the multi-year tenure of our more than 700 people.
