Joseph Hegenbart and Ryan Demadis, producers in NorthMarq Capital's Boston based regional office arranged the $3.5 million refinancing for 175 Highland Ave., a 39,640 s/f office building. The transaction was structured with a 10 year term and 25 year amortization schedule. NorthMarq arranged financing for the borrower, Winhall Realty, LLC through its relationship with a correspondent life company. Major tenants on the property include Practical Computer Applications, Foodtec Solution Inc. and Heifetz Rose LP.
"In a very competitive market the loan closed smoothly due to the expertise and the experience of both the borrower and life company lender," said Hegenbart.