Sidney Spiegel, vice president of NE Moves Mortgage, commercial division, arranged a $2 million refinance loan for a single tenant office building. The loan was funded by a major life insurance company.
The funds will be used to refinance the debt on the property at more favorable rates. The property is leased to Ocean Optics, a diversified photonics technology firm and a global leader in optical sensing. The firm has locations in the United States, Europe, and Asia. The lender recognized the strength of the lease to the borrower and was able to provide a very favorable 10 year fixed rate.
NE Moves works closely with union pension plans, insurance companies, conduits, commercial banks, and local savings banks to provide competitive rates and terms for all types of commercial real estate.
NE Moves' expertise and relationships with a variety of funding sources provides solutions to the financing needs of investors and developers.