NorthMarq Capital’s New York City office arranges acquisition financing of $2.7 million for CVS located in West Miami, Florida
NEW YORK CITY (December 7, 2016) – Ernest DesRochers, senior vice president and managing director of NorthMarq’s New York City office, arranged acquisition financing of $2.7 million for a 13,103 sq. ft. CVS store located at 2393 SW 6th Avenue in West Miami, Florida. The transaction was structured with a fully amortizing 24-year term. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company. “This was a low-leveraged acquisition financing for a long-time NorthMarq client who was able to take advantage of capital market conditions that led to historically low sub-four percent fixed interest rate,” said DesRochers.
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