NorthMarq Capital arranges $8.5 million mortgage for Crouse Irving Memorial Physicians Office Building in Syracuse, New York
Crouse Irving Memorial Physicians
ROCHESTER (September 23, 2013) – Michael James, vice president of NorthMarq‘s Rochester Regional office, arranged refinancing of $8.5 million for Crouse Irving Memorial Physicians Office Building, a 92,000 sq. ft. medical office building located at 725 Irving Avenue in Syracuse, New York. The property is occupied by various healthcare related companies. Financing was based on a 20-year term and a 20-year amortization schedule and was arranged for the borrower by NorthMarq through its relationship with a correspondent life company lender. “This deal provides long-term self-amortizing non-recourse debt,” James stated. “The borrower was able to lock in financing at a very favorable rate.”
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.