John Sullivan, senior vice president of NorthMarq Capital's Boston based regional office completed the $40 million refinance of Gateway Center, a 175,000 s/f office building. The transaction was structured with a long-term fixed rate and featured a fast closing. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.
"The combination of a repeat borrower, property condition and excellent location were major strengths of the transaction," said Sullivan. "All parties recognized the value in structuring a long-term refinance at what will surely be an attractive rate for years to come. It was a pleasure to work with both the lender and borrower to complete the deal."
NorthMarq Capital, one of the largest privately held commercial real estate financial intermediary 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 $13 billion in annual production volume and a loan portfolio of more than $45 billion.