James of NorthMarq Capital arranges $8.8 million loan

Michael James, vice president of NorthMarq's Rochester Regional office, arranged first mortgage refinancing of $8.8 million for 550 Harrison Center, a 97,076 s/f medical office building. Financing was based on a 10-year term and a 25-year amortization schedule and was arranged for the borrower by NorthMarq through its relationship with a life insurance company. "Financing of the property enabled the borrower to significantly upgrade the property and realign the tenant mix with a strong credit tenant," said James. NorthMarq, the largest privately held commercial real estate financial intermediary in the U.S, provides mortgage banking and commercial loan servicing in 33 offices across the U.S. With an average of $8 billion in annual production volume and servicing a loan portfolio of nearly $40 billion, the company offers expertise to borrowers of all size. The company has a long track record of multi-family financing as a Freddie Mac Program Plusâ„¢ Seller-Servicer, and through its affiliation with Fannie Mae DUS lender AmeriSphere Multifamily Finance. In addition, NorthMarq has long relationships with over 50 life companies, many CMBS platforms and hundreds of local, regional and national banks.