ST. LOUIS, MISSOURI (December 17, 2019) – Jeffrey Chaney, senior vice president/managing director of NorthMarq’s St. Louis-based regional office secured $3.5 million in acquisition financing for Balmoral Plaza. The office/retail property is located at 443-465 North New Ballas Road in St. Louis, Missouri. The property contains 12,720 sq. ft. of office space located above 12,020 sq. ft. of retail space.
“This was an excellent permanent loan quote fixed for 10 years with no prepayment penalty the last two years of the term,” said Chaney.
– 10-year term
– 25-year amortization schedule
– NorthMarq arranged the permanent-fixed loan for the borrower, Cape-Jackson SLB, LP through its correspondent relationship with a life insurance company.