NorthMarq Capital arranges a total of $17.8 million in first mortgage financing

NorthMarq Capital, Inc. recently financed three first mortgages totaling $17.8 million. Ernest DesRochers, senior VP and managing director, and Charles Cotsalas, senior VP and senior director, in NorthMarq's L.I. regional office, arranged first mortgage financing in the amount of $12.1 million for 609 Cantiague Rock Rd. The property is a 114,000 s/f flex facility whose major tenant is Brinkmann Instruments. Financing was based on a 10-year term with a 25-year amortization schedule and was arranged for the borrower by NorthMarq through its correspondent relationship with Allstate Life Insurance Co. DesRochers and Cotsalas also arranged first mortgage financing in the amount of $3 million for 90 Nicon Court, an 82,835 s/f flex facility in Hauppauge. Financing was based on a three-year term with a 25-year amortization schedule and was arranged for the borrower by NorthMarq through its correspondent relationship with Sun Life of Canada. Sam Berns, senior VP and managing director of NorthMarq's upstate regional office, arranged first mortgage financing in the amount of $2.7 million for a PriceRite Grocery Store, the 42,100 s/f retail facility in Rochester. 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 national commercial real estate credit company.