NorthMarq Capital arranged $7.27 million to finance two office buildings in Saratoga Springs, New York
7 Wells/260 Broadway
ROCHESTER (March 18, 2013) – Scott DeVinney, vice president of NorthMarq’s Rochester regional office, arranged first mortgage refinancing of $2.62 million for 7 Wells Street and $4.65 million for 260 Broadway. The office buildings, totaling 49,682 sq. ft., are located in downtown Saratoga Springs, New York. Financing was based on a 10-year term and a 25-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a regional bank.
About Northmarq
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.