Murphy and Cherner of NorthMarq arrange $2.225 million acquisition financing

James Murphy, managing director of NorthMarq's Boston regional office, and Jeff Cherner, senior director of NorthMarq's Chicago regional office, cooperated to arrange acquisition financing of $2.225 million for 1675-1685 Holmes Rd., a 101,286 s/f industrial building. Financing was based on a 7-year term with interest only for the first 3 years and a 30-year amortization schedule thereafter. NorthMarq arranged this financing for the borrower, High Street Equity, through its relationship with a correspondent life company lender. "NorthMarq's national reach and local expertise were clearly on display with the regional offices in Boston and Chicago working together to provide the client the best capital available for their transaction," Murphy said