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Brokerage
Posted: February 5, 2010
Berns of NorthMarq arranges $5.05 million mortgage
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.
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