John Sullivan, senior vice president of NorthMarq Capital arranged the $58 million refinance for 73 Tremont St., a 303,000 s/f office building. The transaction was structured with a 20-year term and 23.5-year amortization schedule. Northmarq arranged financing for the borrower through its correspondent relationship with Allianz Life Insurance Company of America. The property represents a landmark class-A office building in downtown, steps away from the State House. "We are grateful for the opportunity to help the borrower meet their capital needs by providing long-term financing at what will surely be an attractive rate for years to come," said Sullivan. "While we had plenty of interest in this transaction from a multitude of capital sources, Allianz Life immediately recognized the quality of the real estate and location. They provided an aggressive quote and were able to execute in a very efficient manner."
Also, Joseph Hegenbart, managing director and Ryan Demadis, vice president of NorthMarq Capital, secured a $4.24 million loan to finance the acquisition of the Global Organics Headquarters Building, a 24,500 s/f property located at 68 Moulton St. in Cambridge. The transaction was structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower, RHAD, LLC through its relationship with a local bank. Global Organics is the major tenant and an affiliate of the borrower.
"Given the limited timeframe to close, the credit of this transaction is owed to the expertise of the local bank and full cooperation from the borrower," said Demadis.