NorthMarq Capital arranged $1.571 million mortgage for College Lakes Shopping Center in Fayetteville, North Carolina
College Lakes Shopping Center
RALEIGH (January 28, 2013) – Todd Crouse, senior vice president and senior director of NorthMarq’s Raleigh Regional office, arranged first mortgage refinancing of $1.571 million for College Lakes Shopping Center, a 43,041 sq. ft. grocery-anchored retail center located at 929 McArthur Road in Fayetteville, North Carolina. Food Lion is the major tenant at the site. Financing was based on a 7-year term and a 20-year amortization schedule. The loan was arranged for the borrower by NorthMarq through its relationship with a local bank. NorthMarq also brokered the sale of the shopping center.
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.
