MIAMI—The Graham Portfolio, which offers 17 industrial buildings and four multifamily complexes in Miami Lakes, has won refinancing. NorthMarq's Miami regional office secured a $73 million loan for the assets.
“The security consisted of multifamily as well as industrial buildings and had a low loan to value ratio,” says Jeff Robertson, a senior vice president and managing director of NorthMarq. “There was a 'forward' pricing element in this deal and that was included in the 'all-in' rate with Lincoln. Given the older nature and complexity of the portfolio loan, the closing has gone remarkably smoothly.”
The Graham Portfolio spans 421,500 square feet of industrial space and 1,434 multifamily units. NorthMarq arranged financing for the borrower, The Graham Companies, through its relationship with The Lincoln National Life Insurance Company. Lincoln won the quote amongst a pool a potential major institutional lenders with the most competitive rate.
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