NorthMarq Capital arranged $4 million mortgage for American Standard Building in Piscataway, New Jersey
American Standard Building
NEW YORK (May 20, 2013) – Ernest DesRochers and Deanna Polizzo of NorthMarq’s New York Metro office, and Greg Nalbandian of NorthMarq’s North Jersey regional office, cooperated to arranged first mortgage refinancing of $4 million for American Standard Building located in Piscataway, New Jersey. The property contains 53,250 sq. ft. of office and warehouse space and is the design center for American Standard and its several subsidiaries. The subject property is strategically located on Centennial Avenue, one mile down the street from American Standard’s World Headquarters at 1 Centennial Avenue. Financing was based on a 5-year term and 25-year amortization schedule. The loan was arranged by NorthMarq through its relationship with a regional bank. “The loan is non-recourse and open to prepayment at any time during the term of the loan,” DesRochers said.
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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.
