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Brokerage
Posted: November 22, 2010
James of NorthMarq Capital arranges $5 million mortgage
Michael James, vice president of NorthMarq Capital's (NorthMarq) Upstate New York Regional office arranged first mortgage financing of $5 million for a 139,000 s/f office building. 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 of Canada. James said, "Refinancing through Sun Life's "blend and extend" program added loan dollars and extended the existing term in a favorable interest rate environment."
NorthMarq 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, with an average of $7 billion in annual production volume and services a loan portfolio of nearly $40 billion. NorthMarq manages more than 60 million s/f of retail, industrial and office space in 22 markets around the country.
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