Michael Chase, assistant vice president of NorthMarq Capital's Boston-based regional office secured the $2.45 million refinance of a 27,253 s/f office property located at One Pillsbury St. The commercial mortgage transaction was structured with a 7-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a regional bank
"We were pleased to be able to continue a relationship that goes back over 15 years with the borrower," said Chase. "Many of our capital sources recognized the quality of the real estate and the ownership, and we were successful placing the transaction with a regional bank who met the borrower's requirements for a cash-out refinancing with a long-term fixed rate and a flexible prepayment penalty."

NorthMarq Capital, one of the largest privately held commercial real estate financial intermediaries in the U.S., provides mortgage banking and commercial loan servicing in 34 offices coast to coast. With more than $10 billion in annual production volume and servicing a loan portfolio of more than $42 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.