DesRochers of NorthMarq refinances $12.9 million

Dix Hills, NY Ernest DesRochers, senior vice president/managing director of NorthMarq Capital’s New York metro office and Charles Cotsalas, senior vice president/senior director of NorthMarq Capital’s Long Island office collaborated to arrange financing for a four retail-property portfolio in Suffolk County, Long Island and a retail plaza in Dix Hills, New York totaling a combined $12.9 million. The 51,820 s/f Dix Hills Plaza is located at 1815-1819 East Jericho Turnpike in Dix Hills and was refinanced for $8.5 million. The transaction was structured with a 9-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a local bank. A four property portfolio of retail properties, located in Suffolk County, Long Island was refinanced at $4.4 million. The buildings contain a combined 131,005 s/f. The transaction was structured with a fully amortizing 18-year term. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. “The borrower has a long and proven track record in the Long Island industrial market,” said DesRochers.