Murphy of NorthMarq arranges $9.72 million acquisition financing
James Murphy, managing director of NorthMarq Capital's Boston-based regional office secured $9.72 million in acquisition financing for Eastport Industrial Park Buildings I & III, two industrial properties consisting of a combined 366,595 s/f located at 8979-8999 and 8901-8919 Market St. The commercial mortgage transaction was structured with a 5-year term with 1-year interest only and 30-year amortization schedule. NorthMarq arranged financing for the borrower, High Street Realty Company through its correspondent relationship with Great-West Life & Annuity Company.
Brooklyn, NY Investment Property Realty Group (IPRG), a New York-based commercial investment firm, has closed the sale of 1094 Hancock St., a mixed-use building in the Bushwick section, for $1.75 million.
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