Jeff Frankel, senior vice president and senior director in Northmarq’s Chicago office, finalized refinancing of two industrial properties totaling a combined 275,254 square feet located in Downers Grove and Mokena, Illinois.
The transactions were structured as separate loans ($7.45 and $8.3 million respectively) with a five-year term on a 30-year amortization schedule. Northmarq arranged the fixed rate loans for the borrower through its correspondent relationship with a life insurance company.
