Ranieri of NorthMarq arranges $8 million first mortgage through StanCorp Mortgage

Robert Ranieri, senior vice president/managing director of NorthMarq's Capital Services East Regional office arranged first mortgage refinancing of $8 million for 175 Memorial Hwy., a 56,671 s/f medical office building. New Rochelle Radiology is the major tenant at the site. Financing was based on a 25-year term and a 25-year amortization schedule and was arranged for the borrower, 175 Medical Vision Properties, LLC, by NorthMarq through its correspondent relationship with StanCorp Mortgage Investors LLC. "The borrower was looking for long-term fixed-rate financing for this fully rented medical office building and we were able to accomplish this with our correspondent relationship with StanCorp," said Ranieri. 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.