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