September 23, 2013

NorthMarq Capital arranges $8.5 million mortgage for Crouse Irving Memorial Physicians Office Building in Syracuse, New York

Crouse Irving Memorial Physicians

Debt & Equity

Multi-Tenant

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.”

Available Medical Office 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.