April 16, 2015

NorthMarq Capital arranges $1.5 million refinance of 388 Tarrytown Road in White Plains, New York

388 Tarrytown Road

Debt & Equity

Multi-Tenant

GREATER WESTCHESTER NY/CT (April 15, 2015) – Robert W. Ranieri, senior vice president/managing director of NorthMarq Capital’s Greater Westchester New York/Connecticut based regional office secured the $1.5 million refinance of 388 Tarrytown Road, a 12,435 sq.ft. retail property located in White Plains, New York. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower, Granite Properties, LLC through its relationship with a local bank. “This loan was refinance of a maturing CMBS loan,” said Ranieri. “The local bank was very aggressive offering a 10-year deal with 30-year amortization and non-recourse. At the last minute, a major tenant had to delay their opening and the bank agreed to a master lease to resolve the issue.”

Available Retail (MT) 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.