NorthMarq Capital arranges $11,385,757 bridge loan for Sheraton Long Island Hotel

Gary McGlynn, senior vice president and managing director of NorthMarq Capital's (NorthMarq) Washington, D.C. regional office, arranged first mortgage financing of $11,385,757 for the 209-room Sheraton Long Island Hotel. Financing was structured as a 3-year interest-only bridge loan and was arranged for the borrower, a Washington, D.C. based client. The loan was placed with a correspondent life company lender for NorthMarq's Washington, D.C. regional office. NorthMarq offers a full range of commercial real estate solutions across the country from its headquarters in Minneapolis, Minn. The NorthMarq Capital group offers commercial real estate investment banking, investment sales, real estate debt and equity financing, and commercial loan servicing in 32 offices coast-to-coast, averaging $10 billion in annual production volume and servicing a loan portfolio of more than $37 billion.