September 30, 2013

NorthMarq Capital arranges $4.15 million mortgage for Cayuga Professional Building in Ithaca, New York

Cayuga Professional Building

Debt & Equity

Multi-Tenant

ROCHESTER (September 30, 2013) – Michael James, vice president of NorthMarq‘s Rochester regional office, arranged refinancing of $4.15 million for Cayuga Professional Building, a 36,336 sq. ft. professional office building located at 1301 Trumansburg Road in Ithaca, New York. The property is occupied by various professional and health care related companies. Financing was based on a 10-year term and a 30-year amortization schedule and was arranged for the borrower by NorthMarq through its relationship with a CMBS lender. “NorthMarq’s Defeasance Group helped the borrower defease his existing loan at the same time the new loan was being closed,” said James. “The borrower was able to lock in favorable non-recourse financing.”

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Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq’s solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.Northmarq.com.

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