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