Sam Berns, senior VP and managing director of NorthMarq Capital's upstate New York regional office arranged first mortgage financing in the amount of $5.05 million for a 42,187 s/f medical office building. The major tenant in the building is Community Hospital of Indiana. Financing was based on a 10-year term and a 20-year amortization schedule and was arranged for the borrower by NorthMarq through its relationship with American Equity Life.
According to Berns, this single tenant transaction included a holdback for tenant improvement completion and rent commencement. The loan closed within 45 days of application. Tags: