News:
Brokerage
Posted: February 26, 2015
Hegenbart and Demadis of NorthMarq finalize $10.3 million refinance
Joseph Hegenbart, managing director and Ryan Demadis, vice president of NorthMarq Capital's Boston based regional office arranged the $10.3 million refinance of Quarry Place II, a 55,000 s/f retail property located at 99-103 Cedar St. The transaction was structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower, Quarry Place II, LLC through its relationship with a regional bank. The Sports Authority is the property's largest tenant.
"We are pleased to have facilitated the financing for this transaction on behalf of our client," said Hegenbart. "The strength and experience of the borrower coupled with the quality and location of the real estate allowed us to get over a few hurdles and secure long term financing."
MORE FROM Brokerage
Goldberg of Spire Investments purchases Beverly portfolio for $9.2m
Beverly, MA Jay Goldberg, president and owner of Spire Investments has completed the purchase of four multifamily buildings. The 33-unit purchase amounted to a sale price of $9.2 million or $278,788 per unit. The properties are all located in downtown and consist of one- and two-bedroom units.
Quick Hits
Columns and Thought Leadership
End of the year retail thoughts - by Carol Todreas
Now what? As the year comes to a close, the state of retail is always in the news. The answers vary greatly depending on who in the various related industries you ask, each offering a unique lens on the challenges and opportunities ahead.
The rise of AI in CRE - And what it means for every skilled profession - A broker & appraiser weighs in - by Bryan Plourde
This may seem self-serving, and I’ll be the first to admit it. But unlike some of the artificial intelligence tools now reshaping our industry, I am fully aware of my own bias. So, hear me out. The rise of AI in commercial real estate is not a distant threat or a speculative headline.