NorthMarq Capital arranged $59 million mortgage for Condyne Industrial Portfolio in the Greater Boston Area
Condyne Industrial Portfolio
BOSTON (April 8, 2013) – James M. Murphy, managing director of NorthMarq’s Boston regional office, arranged acquisition and mezz financing of $59 million for the Condyne Industrial Portfolio located throughout the Greater Boston Area. The portfolio includes 5 buildings containing a total of 1.5 million square feet of industrial space. Financing was based on a 5-year term with one year of interest only and a 29-year amortization schedule. NorthMarq arranged this financing for the borrower, Massachusetts Industrial, LLC, through its relationship with a Real Estate Investment Trust. “This deal required structured financing to include first mortgage, mezzanine plus preferred equity,” said Murphy. “It was NorthMarq’s pleasure to work with the borrower and lender to put this deal together.”
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.
