NorthMarq Capital's Boston office arranged $27.7 million mortgage for industrial portfolio in Allendale, New Jersey
Allendale Industrial Portfolio
BOSTON (August 7, 2013) – James M. Murphy, managing director of NorthMarq’s Boston regional office, arranged first mortgage refinancing of $27.7 million for an industrial portfolio in Allendale, New Jersey. The properties are located at 1, 2, 3, 5, 6 & 7 Pearl Court and 59 Route 17 and contain a combined total of 368,556 sq. ft. of flex/warehouse space. Financing was based on a 5-year term and a 25-year amortization schedule. NorthMarq arranged this financing for the borrower, High Street Equity, through its relationship with a correspondent life company lender. “This transaction was a full-leveraged financing with a flexible prepayment structure and allowable partial releases,” Murphy said. “We were pleased to continue our relationship with both the lender and borrower in the funding of this loan.”
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.
