June 12, 2013

NorthMarq Capital arranged $6.15 million mortgage for 10 Industrial Avenue in Mahwah, New Jersey

10 Industrial Avenue

Debt & Equity

Multi-Tenant

PARSIPPANY (June 12, 2013) – Gary Cohen, senior vice president and senior director of NorthMarq’s North New Jersey regional office, arranged a first mortgage refinancing of $6.15 million for 10 Industrial Avenue, a 91,448 sq. ft. warehouse/office property located in Mahwah, New Jersey. Financing was based on a 5-year term and a 25-year amortization schedule. NorthMarq arranged this financing for the borrower, Hampshire Generational fund, through its relationship with a regional bank. “The existing lender provided the borrower an opportunity to pay off the existing loan and waived the prepayment penalty,” Cohen said. “We structured a deal with a new lender to mitigate the lease rollover and provided the borrower the opportunity to refinance the asset at very favorable terms.”

Available Industrial 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.