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.”
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