November 5, 2014

Arranges $5 million refinance of Allied Shopping Center in Whitestone, New York

Allied Shopping Center

Debt & Equity

Multi-Tenant

NEW YORK (October 29, 2014) – Charles Cotsalas, senior managing director of NorthMarq Capital’s Long Island based office arranged the $5 million refinance of Allied Shopping Center, a 42,458 sq.ft. retail property located at Francis Boulevard and Willis Point Boulevard in Whitestone, New York. The transaction was structured with a 10-year term and 25-year amortization. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. CVS represents the property’s major tenant. “Our correspondent lender provided 100% cash-out finance dollars and attractive 10-year fixed-rate financing—even though the leases were all turning at least once during the term,” noted Cotsalas.

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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.

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