Nalbandian of NorthMarq arranges $3.5 million mortgage

Gregory Nalbandian, senior VP and managing director of NorthMarq's N.J. regional office, arranged first mortgage refinancing in the amount of $3.5 million for Signature Properties. This asset is a renovated 23,501 s/f medical office building located at 75 Orient Way. Financing was based on a 10-year term and a 30-year amortization schedule through NorthMarq's relationship with a correspondent life company. "The sponsor made a strategic decision to complete an early refinance and pay the prepayment penalty in order to lock in a very low 10-year fixed rate with one of our life company correspondents with no reserves of any kind. This medical office building is unquestionably the strongest building in its submarket by virtue of its medical tenant roster and is very unique with an on-site surgery center despite the fact that Orient Way is not a traditional medical office corridor," said Nalbandian. "Our correspondent lender was able to understand this significant competitive advantage and get comfortable providing a loan of $150/s/f." About NorthMarq 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. For more information, please visit www.northmarq.com.