Riekstins of NorthMarq Capital arranges $4.5 million acquisition financing

44-46 Plympton Street - Boston, MA

Ed Riekstins, NorthMarq Capital

Boston, MA Ed Riekstins, senior vice president of NorthMarq Capital’s Boston regional office arranged acquisition financing of $4.5 million for a 28,600 s/f office property located at 44-46 Plympton St. The transaction was structured with a 10-year term and a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a national bank. The office is located in the city’s South End, only a block away from the Boston Flower Exchange redevelopment site.

“The borrower was able to get the most flexible terms with this lender and we were very pleased with the smooth and quick closing process,” said Riekstins. “This is a repeat borrower that NorthMarq has done business with and we anticipate closing many more deals in the future.”

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.