June 17, 2013

NorthMarq Capital arranged $1.075 million mortgage for 216-220 Pearl Street in Springfield, MA

216-220 Pearl Street

Debt & Equity

Multi-Tenant

BOSTON (June 17, 2013) – Michael Chase, assistant vice president of NorthMarq’s Boston regional office, arranged first mortgage refinancing of $1.075 million for 216-220 Pearl Street in Springfield, Massachusetts. The property contains 26 market-rate multifamily units. Financing was based on a 7-year term and a 25-year amortization schedule and was arranged for the borrower by NorthMarq through its relationship with a correspondent life company lender. “This transaction is the refinance of a fractured condominium,” Chase said. “The original loan was not scheduled to mature until 2014, but NorthMarq was able to work with the lender and borrower so that the borrower could take advantage of the current low rate environment.”

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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, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.Northmarq.com.

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