October 17, 2013

NorthMarq Capital arranges $1.7 million refinancing for the Albert G. Brock Building in Nantucket, Massachusetts

Albert G. Brock Building

Debt & Equity

Multi-Tenant

BOSTON (October 16, 2013) – Doug Nickerson, vice president at NorthMarq’s Boston regional office, arranged refinancing of $1.7 million for the Albert G. Brock Building, located at 53 Main Street, Nantucket, MA. The 5,897 sq. ft. multi-tenant office building’s financing was based on a 20-year term and a 20-year amortization schedule. NorthMarq arranged this financing for the borrower through its relationship with a correspondent life insurance company lender. “A remote island setting and high loan per square foot narrowed the potential lenders for this transaction,” said Nickerson. “However, the uniqueness of the real estate, coupled with the lender’s willingness to provide a long term, fully amortizing deal with a locked rate was very attractive to our borrower.”

Available Office 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.