NorthMarq Capital has completed a total of $130 million in financing for developers on a variety of properties. The following highlights several of the deals.
Sam Berns, senior VP, arranged a $35 million permanent loan on the Alexander Park office park. In addition, he also financed three Walgreens in upstate markets totaling $15.7 million, a 58-unit apartment complex through Freddie Mac for $2.6 million, a warehouse in suburban Syracuse for Kinney Drugs for $1.5 million and a $2.4 million fixed rate construction loan for apartments in suburban Buffalo.
Scott DeVinney delivered $5.3 million from a conduit lender on an office building called The Foundry in Syracuse. DeVinney also provided $4 million for a renovated retail building in Saratoga Springs from a national banking source. He also secured $23.2 million from several Wall St. conduit lenders and correspondent life insurance companies for a variety of real estate transactions. These financings included several Kinney Drug Stores, a Lowes Home Improvement Store, a Rite Aid Drug store, a stand alone Burlington Coat Factory, a multi-tenanted retail plaza and an apartment complex. Also, he financed a multitenanted office building in the Albany area for $14 million through NorthMarq's correspondent relationship with State Farm Life Insurance Co.
Mike James closed a financing of $3.7 million for an industrial property at 5717 Enterprise Pwy. located in East Syracuse from a correspondent life insurance company. He also arranged $1.4 million for flex space located at 16-18 Corporate Cir. in Syracuse from a correspondent life insurance company source. Also placed by James, was a funding of $13 million from a correspondent life insurance company for three newly constructed drug store locations in various towns across N.Y. In addition, he financed an apartment complex, office and industrial buildings in excess of $3.2 million.
Dave Hart arranged construction financing of $3.1 million from a regional bank for the renovation of a former nursing home into a 23-unit apartment complex to be named, The Bradford, located in the Dewitt section of Syracuse. Small loan coordinator, Nancy VanIseghem, closed three transactions totaling $2 million for several retail and office properties in the Rochester area. Tags: