Riekstins of NorthMarq Capital arranges $8 million refinancing

Ed Riekstins, NorthMarq Capital

North Chelmsford, MA Ed Riekstins, managing director of NorthMarq Capital’s Boston-based regional office arranged the $8 million refinance of Chelmsford Mills, a 208,698 s/f office property located at 51 Middlesex St. The transaction was structured with a 10-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a local bank. 

“The financing was arranged with a repeat lender,” said Riekstins. “The relationship with the local bank, coupled with the well-managed property with historically strong occupancy, allowed for a successful transaction.”    

Chelmsford Mills, 51 Middlesex Street - North Chelmsford, MA

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 nationwide. The company has built long-term relationships with life companies, CMBS platforms and local, regional and national banks, and has maintained a long track record of multifamily loan origination through Freddie Mac, Fannie Mae and FHA/HUD. The company closes more than $12.5 billion in commercial real estate loans annually and services a loan portfolio of more than $47 billion.