DesRochers of NorthMarq arranges $3.35 million in financing

Old Bridge, NJ Ernest DesRochers, senior vice president/managing director of NorthMarq Capital’s New York metro office arranged construction to permanent financing of $3.35 million for Walgreen’s Old Bridge, a 13,588 s/f retail property located at 2603-2727 Highway 516. NorthMarq arranged financing for the borrower through its relationship with a national bank. “The credit facility is actually secured by a leasehold interest in the land,” said DesRochers. “The lender took the time to thoroughly understand the ground lease.”