RALEIGH (January 30, 2013) – Todd Crouse, senior vice president and senior director of NorthMarq’s Raleigh Regional office, arranged first mortgage refinancing of $3.25 million for the 36,001 sq. ft. Atrium Medical Office Building located at 2417 Atrium Drive in Raleigh, North Carolina. The property was 23% vacant at the time of the refinance. Financing was based on a 10-year term and a 25-year amortization schedule. The loan was arranged for the borrower by NorthMarq through its relationship with a correspondent life insurance company. “The lender provided attractive financing without any holdbacks or reserves for this Class A medical office building that was only 77% occupied at closing,” Crouse said.
Medical Office - Debt