NorthMarq Capital arranges financing for two Dollar General locations in Tully and Lockport, New York
Dollar General Locations
ROCHESTER (August 4, 2014) – Scott DeVinney, vice president of NorthMarq Capital’s Rochester based regional office negotiated financing for two nonrecourse loans with short term leases worth $1,000,000 for two Dollar General stores. The stores contain a combined 16,250 sq.ft. of retail space and are located in Lockport and Tully, New York. The transaction was structured with a 10-year term and 25-year amortization schedule and was arranged for the borrower through NorthMarq’s relationship with a regional bank. “The properties were built in 2004 for Dollar General,” said DeVinney. “NorthMarq was able to provide a long-term fixed rate loan with relatively short lease terms remaining.”
About Northmarq
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.