April 19, 2016

NorthMarq Capital arranges $10 million refinance of X-Cell Realty office property in New Hyde Park, New York

X-Cell Realty

Debt & Equity

Multi-Tenant

NEW YORK CITY (April 19, 2016) – Ernest DesRochers, senior vice president/managing director of NorthMarq Capital’s New York metro office, and Charles Cotsalas, senior director of NorthMarq Capital’s Long Island office, collaborated to arrange the $10 million refinance of X-Cell Realty, a 166,931 sq. ft. office property located at 3333 New Hyde Park Road in New Hyde Park, New York. The transaction was structured with a fully amortizing 20-year term. NorthMarq arranged financing for the borrower through its relationship with a correspondent life insurance company. “The lender structured the loan to allow for very flexible prepayment terms for the borrower during the last half of the loan term,” explained DesRochers.

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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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