News: Finance

NorthMarq secures $ 1.7 milllion financing for North Country Plaza

NorthMarq's Boston regional office, arranged permanent mortgage financing of $1.7 million for North Country Plaza. The loan was arranged for the borrower, Windalier North Country Plaza, LLC, by NorthMarq through its relationship with People's United Bank. North Country Plaza is a retail strip center consisting of 20,700 s/f of space. Tenants include Panera Bread, Mattress Giant, Verizon and FedEx Office. The property is located on Rte. 12A, a major north-south artery through the region, just off of I-89 at exit 20. Rte. 12A is considered the retail hub of the region drawing consumers from the surrounding areas. NorthMarq, headquartered in Minneapolis, offers commercial real estate services for investors, developers, corporations and tenants. The company provides mortgage banking and commercial loan servicing in 32 offices coast-to-coast, with an average of $7 billion in annual production volume and services a loan portfolio of nearly $40 billion. NorthMarq manages more than 60 million sq. ft. of retail, industrial and office space in 22 markets around the country and handles more than 7,500 leasing, sales and mortgage banking transactions annually. For more information, please visit www.northmarq.com.
Tags: Finance
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Massachusetts real estate transfers  over $1 million face new tax rules as of November 1st - by Daniel Meyer

Massachusetts real estate transfers over $1 million face new tax rules as of November 1st - by Daniel Meyer

Attention to owners of real estate in the Commonwealth (and the title companies and other professionals who advise them), the Massachusetts Department of Revenue (the “DOR”) recently adopted a new “millionaire’s tax” via 830 CMR 62B.2.4
The focus on price per s/f compared to the  comparable sales used in the appraisal report - by Dennis Chanski

The focus on price per s/f compared to the comparable sales used in the appraisal report - by Dennis Chanski

Over the past several weeks, I have completed appraisal assignments for private clients. Interestingly, after submitting these appraisals, I received several phone calls – not to question the value, content, or any incorrect information, but rather to discuss the price per s/f compared to the comparable sales used in the report.
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