Retail - Debt

NorthMarq Capital arranged $5 million mortgage for Danville Square in Dundalk, Maryland

BALTIMORE (September 18, 2013) – Joseph T. Burke, executive vice president and senior managing director of NorthMarq’s Baltimore regional office, arranged first mortgage refinancing of $5 million for Danville Square, an 82,000 sq. ft. neighborhood shopping center located in Dundalk, Maryland. Pep Boys, PetSmart and IHOP are major tenants at the site. Financing was arranged for the borrower, Merritt Boulevard Partnership, by NorthMarq through its relationship with a correspondent life company lender. “NorthMarq was able to secure 10-year fixed-rate financing from one of their life company correspondent lenders for this very successful and well-maintained shopping center,” Burke said.

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.