Robert Ranieri, NorthMarq CapitalRye, NY Robert Ranieri, senior vice president/managing director of NorthMarq Capital’s Greater Westchester New York/Connecticut based regional office, arranged the $15 million refinance of One Theall Rd.
“The loan was placed with a regional bank that NorthMarq Capital originates and services for,” said Ranieri.
Jesse Krasnow along with Mark Cohen of Riverbed Realty Advisors represented the borrowers in the transaction. The fixed rate 10-year loan features a free 60-day rate lock, flexible prepayment and does not require ongoing escrows.
The 65,000 s/f class A medical office building is net leased to WESTMED Medical Group.
The building includes an on-site urgent care unit, an ambulatory surgery suite, a pharmacy and a tomography unit. The existing ownership purchased the building vacant in 2006 and converted the use to medical/office for WESTMED.
WESTMED Medical Group is a large expanding multi-specialty group practice with 317 physicians. Headquartered in Purchase, WESTMED has six locations in central and lower Westchester County and three in Fairfield County.
NorthMarq Capital, the largest privately held commercial real estate financial intermediary in the U.S., provides debt, equity and commercial loan servicing through its 36 offices across the U.S. The company has built long-term relationships with life companies, CMBS platforms and local, regional and national banks and has a long track record of multi-family loan origination through Freddie Mac Program Plus™, the Fannie Mae DUS program and through FHA, resulting in more than $12 billion in annual production volume and a loan portfolio of more than $47 billion.
One Theall Road - Rye, NY