DesRochers and Cotsalas of NorthMarq secure $5.85 million for Walgreens

Ernest DesRochers, senior vice president and managing director, of NorthMarq's New York City Metro regional office, and Charles Cotsalas, senior vice president and senior director of NorthMarq's Long Island regional office, arranged first mortgage refinancing of $5.85 million for a 13,000 s/f Walgreens Pharmacy. Financing was based on a 7-year plus 1-3 year renewal option and a 30-year amortization schedule and was arranged for the borrower by NorthMarq through its relationship with a regional bank. NorthMarq, the largest privately held commercial real estate financial intermediary in the U.S, provides mortgage banking and commercial loan servicing in 33 offices across the U.S. With an average of $8 billion in annual production volume and servicing a loan portfolio of nearly $40 billion, the company offers expertise to borrowers of all size. The company has a long track record of multi-family financing as a Freddie Mac Program Plusâ„¢ Seller-Servicer, and through its affiliation with Fannie Mae DUS lender AmeriSphere Multifamily Finance. In addition, NorthMarq has long relationships with over 50 life companies, many CMBS platforms and hundreds of local, regional and national banks. For more information, please visit www.northmarq.com.