NorthMarq delivers results during crisis: Robert Ranieri arranges $16.5 million refinance of Wallington Plaza in Wallington, New Jersey

Wallington Plaza
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WHITE PLAINS, NEW YORK (April 30, 2020) – Robert Ranieri, senior vice president/managing director of NorthMarq’s White Plains office secured the $16.5 million refinance of Wallington Plaza. The 94,297 sq. ft. grocery-anchored retail property is located on Paterson Avenue in Wallington, New Jersey. The permanent-floating rate loan was structured with a 7-year term on a 30-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a local bank. 

“We were able to close the loan during the COVID-19 pandemic because the property is anchored by a ShopRite supermarket which is considered an essential business serving the needs of the neighboring communities,” said Ranieri. 

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 a loan servicing portfolio of more than $76 billion and a two-year transaction volume of $52 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.northmarq.com.