NorthMarq Capital’s Westchester office finalizes $2.6 million construction loan for retail property in White Plains, New York

316-332 Tarrytown Road
Debt & Equity
Shopping Center
Multi-Tenant
Construction Loan
Bank
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GREATER WESTCHESTER NY/CT (January 13, 2017) – Robert W. Ranieri, senior vice president/managing director of NorthMarq Capital’s Greater Westchester New York/Connecticut-based regional office, arranged a construction loan of $2.6 million for a 15,000 sq. ft. retail property located at 316-332 Tarrytown Road in White Plains, New York. The transaction was structured with a 1-year interest-only term. NorthMarq arranged financing for the borrowers through its relationship with a regional bank. Harbor Freight Tools is the property’s sole tenant and will occupy the space. This will be Harbor Freight Tools’ first store in Westchester. “The bank provided a construction loan that converts to a permanent loan once the tenant is open for business,” said Ranieri.

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Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $78 billion and has completed $69.5 billion in transactions over the past three years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide. For more information, visit www.northmarq.com.
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