News:
Brokerage
Posted: March 23, 2015
DesRochers of NorthMarq facilitates $18 million mortgage loan
Ernest DesRochers, senior vice president and co-managing director of NorthMarq Capital's New York metro office arranged an $18 million mortgage loan for the refinance of Concordia Shopping Center, a 135,090 s/f retail property located at 1600 Perrineville Rd. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. Stop & Shop represents the property's major tenant.
"The anchor tenant lease has less than 10-years remaining on its term but the lender was able to get over that risk on account of both the strong location and tenant sales history," said DesRochers. "The lender closed the loan within a very specific time frame to accommodate the needs of the borrower."
Tags:
Brokerage
MORE FROM Brokerage
Devli Real Estate acquires 67,000 s/f flex industrial property on Rte. 17 in Upper Saddle River
Upper Saddle River, NJ Devli Real Estate acquired 118 Rte. 17 North, a 67,000 s/f flex industrial/retail asset situated on 6.3 acres with highway frontage. The property is positioned along
Columns and Thought Leadership
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
AI comes to public relations, but be cautious, experts say - by Harry Zlokower
Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
Strategic pause - by Shallini Mehra and Chirag Doshi
Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent
