August 4, 2014

NorthMarq Capital arranges construction/permanent financing for Pittsburgh office building

Rivertech Office Works

Debt & Equity

Multi-Tenant

ROCHESTER (August 4, 2014) – Scott DeVinney, vice president of NorthMarq Capital’s Rochester based regional office arranged a $1.850 million 10-year fixed rate construction to permanent loan for Rivertech Office Works, a 12,000 sq.ft. office building located at 3700 S. Water Street, Pittsburgh, Pennsylvania. The transaction was structured with 10-year term and 20-year amortization schedule and was arranged for the borrower by NorthMarq through its relationship with a regional bank. “The building will house the University of Pittsburgh’s neuro-muscular lab,” said DeVinney. “The financing that was provided allowed the borrower to lock in today’s current low interest rates for the next 10 years.”

Available Office properties

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.