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