Saugus, MA Mark Whelan, vice president of NorthMarq Capital’s Boston regional office, arranged refinancing of $3.675 million for a 11,500 s/f retail center.
The transaction was structured with a 10-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a regional bank.
The center is anchored by Mattress Firm, FedEx and ForEyes (GrandVision).
“We were happy to secure a 10-year fixed-rate loan under a non-recourse structure for this first-time investment property buyer,” said Whelan.
NorthMarq Capital, one of the largest privately held commercial real estate financial intermediaries in the U.S., provides debt, equity and commercial loan servicing through its 36 offices across the U.S. The company has built long-term relationships with life companies, CMBS platforms and local, regional and national banks, with a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. The company closes approximately $13 billion in commercial real estate loans annually and services a loan portfolio of more than $50 billion.