Medical Office - Debt

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

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.”

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes.