Medical Office - Debt

NorthMarq Capital arranged $3.25 million mortgage for Atrium Medical Office Building in Raleigh, North Carolina

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.

Northmarq is an industry-leading capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with an open, flexible structure, enabling our team of seasoned professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of over $30 billion, and loan servicing of nearly $70 billion.