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Brokerage
Posted: July 25, 2011
James of NorthMarq arranges $6.5 million mortgage for Basin Park
Michael James, vice president of NorthMarq Capital's (NorthMarq) Upstate New York Regional, arranged first mortgage financing of $6.5 million for Basin Park, a 141,513 s/f office property located at 1150-1160 Pittsford Victor Rd.
Financing was based on a 10-year term and a 20-year amortization schedule and was arranged for the borrower by NorthMarq through its correspondent relationship with Sun Life Assurance Company of Canada. James said, "Sun Life provided good long-term financing for the borrower."
NorthMarq, headquartered in Minneapolis, offers commercial real estate services for investors, developers, corporations and tenants. The company provides mortgage banking and commercial loan servicing in 32 offices coast-to-coast. NorthMarq manages more than 60 million s/f of retail, industrial and office space in 22 markets around the country and handles more than 7,500 leasing, sales and mortgage banking transactions annually.
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