Seneca Falls, NY Robert Ranieri, senior vice president/managing director of NorthMarq’s White Plains office secured acquisition financing of $2.73 million for Liberty Center Plaza, a 80,846 s/f retail property.
The transaction was structured with a 7-year term on a 25-year amortization schedule. NorthMarq arranged the permanent-fixed rate loan for the borrower through its correspondent relationship with a life insurance company.
The property’s major tenants include Tractor Supply Company and The Salvation Army.
“NorthMarq was able to provide numerous life company options for this existing client who is looking to grow his neighborhood retail portfolio,” said Ranieri.