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Brokerage
Posted: September 23, 2013
Murphy of NorthMarq arranges $14.25 million mortgage for industrial portfolio
James Murphy, managing director of NorthMarq's Boston regional office, arranged first mortgage refinancing of $14.25 million for an industrial portfolio. The properties are located at 300 Columbus Circle and 400 Raritan Center and contain a total of 204,440 s/f of industrial space. Financing was based on a five-year term and a 25-year amortization schedule. NorthMarq arranged this financing for the borrower, High Street Equity, through its relationship with a correspondent life company lender.
"This transaction was a full-leveraged financing with a flexible prepayment structure and allowable partial releases," Murphy said. "We were pleased to continue our relationship with both the lender and borrower in the funding of this loan."
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