DesRochers and Cotsalas of NorthMarq arrange $2.2m mtge.
Ernest DesRochers, senior vice president and managing director, and Charles Cotsalas, senior vice president and senior director, in NorthMarq Capital, Inc.'s (NorthMarq) Long Island Regional office, arranged first mortgage financing in the amount of $2.2 million for 110 Windsor Place, a 41,000 s/f flex facility.
Financing was based on a 7-year term with a 25-year amortization schedule and was arranged for the borrower by NorthMarq through its correspondent relationship with Sun Life of Canada. Cotsalas said, "Sun Life structured a prepayment flexibility in years 6 and 7 in order to accommodate a likely sale."
Hauppauge, NY The Suffolk County Industrial Development Agency (IDA) has granted preliminary approval of a financial incentive package that will assist a manufacturer in expanding its business by manufacturing more prescription (Rx) pharmaceuticals in addition to its existing over-the-counter