February 17, 2015

NorthMarq Capital finalizes $18 million refinance of Concordia Shopping Center in Monroe Township, New Jersey

Concordia Shopping Center

Debt & Equity

Multi-Tenant

NEW YORK CITY (February 16, 2015) – Ernest DesRochers, senior vice president and co-managing director of NorthMarq Capital’s New York metro office arranged an $18 million mortgage loan for the refinance of Concordia Shopping Center, a 135,090 sq.ft. retail property located at 1600 Perrineville Road in Monroe Township, New Jersey. The transaction was structured with a 10-year term and 30-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. Stop & Shop represents the property’s major tenant. “The anchor tenant lease has less than 10-years remaining on its term but the lender was able to get over that risk on account of both the strong location and tenant sales history,” said DesRochers. “The lender closed the loan within a very specific time frame to accommodate the needs of the borrower.”

Available Retail (MT) properties

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 and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.