Retail (MT)
Debt & Equity

NorthMarq Capital arranged $32 million mortgage for Midway Shopping Center in Scarsdale, New York

SAN DIEGO (January 21, 2013) – Doug Austin, vice president of NorthMarq‘s San Diego Regional office, arranged first mortgage refinancing of $32 million for Midway Shopping Center, a 246,981 sq. ft. grocery-anchored retail property located at 1001 Central Park Avenue in Scarsdale, New York. Major tenants at the site include a 69,592 sq. ft. Shop Rite, CVS, Jo-Ann Fabrics, The Dress Barn, Planet Fitness, Red Lobster, Capital One Bank and Starbucks. Financing was based on a 15-year term with two 5-year options to extend and a 25-year amortization schedule and was arranged for the borrower by NorthMarq through its relationship with a correspondent life company lender. “The interest rate was locked nine months before funding,” said Austin.

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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Midway Shopping Center
Debt
$32,000,000