NorthMarq Capital arranges $2.4 million refinance of Longwater Circle

Longwater Circle - Norwell, MA

Norwell, MA Michael Chase, vice president of NorthMarq Capital’s Boston office, arranged the $2.4 million refinance of Longwater Circle, an office property. The commercial mortgage transaction featured long-term fixed-rate for over 10-years with a 30-year amortization and a flexible prepayment schedule. NorthMarq arranged financing for the borrower through its relationship with a regional bank.

Michael Chase, NorthMarq Capital

“While the property is a well located quality asset, the key to this transaction was strength of the sponsorship,” said Chase. “Lenders were eager to have an opportunity to work with one of the premier real estate groups on the south shore. We were pleased to be able to meet the client’s request for providing competitive long-term fixed-rate financing.”

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 and has a long track record of multi-family loan origination through Freddie Mac Program Plus, the Fannie Mae DUS program and through FHA, resulting in more than $12 billion in annual production volume and a loan portfolio of more than $47 billion.