NorthMarq Capital’s New York City office arranges acquisition financing of $2.7 million for CVS located in West Miami, Florida
CVS
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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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.
