BOSTON (July 18, 2013) – James M. Murphy, managing director of NorthMarq’s Boston regional office, arranged first mortgage refinancing of $14.25 million for an industrial portfolio in Edison, New Jersey. The properties are located at 300 Columbus Circle and 400 Raritan Center and contain a total of 204,440 sq. ft. of industrial space. Financing was based on a 5-year term and a 25-year amortization schedule. NorthMarq arranged this financing for the borrower, High Street Equity, through its relationship with a correspondent life company lender. “This transaction was a full-leveraged financing with a flexible prepayment structure and allowable partial releases,” Murphy said. “We were pleased to continue our relationship with both the lender and borrower in the funding of this loan.”
Industrial -
Debt
