Bruce Whipple, vice president of NorthMarq Capital, Inc.'s New York City regional office, arranged permanent fixed rate financing in the amount of $2.9 million for 50 Miry Brook Rd. The property contains 41,996 s/f of flex, office and industrial space and is home to Contact Systems, Trademark, and Mistral Fitness Systems. The property is well located in an area adjacent to the airport, I-84, the Danbury Fair Mall, Rte. 7 and the Central Business District. Financing was based on a 25-year term with a 25-year amortization schedule and was arranged for the borrower, 50 Miry Brook LLC, by NorthMarq through its correspondent relationship with StanCorp Mortgage Investors.
Whipple said, "The borrower was able to receive a long-term self-liquidating mortgage at a very reasonable rate with minimal recourse."