November 24, 2015

NorthMarq Capital’s Long Island office negotiates the $7 million refinance of warehouse property in Corona, New York

Fodera Enterprises

Debt & Equity

Multi-Tenant

LONG ISLAND (November 24, 2015) – Charles Cotsalas, senior vice president/senior director of NorthMarq Capital’s Long Island based office arranged the $7 million refinance of Fodera Enterprises, a 79,730 sq. ft. warehouse property located at 129-02 Northern Boulevard in Corona, New York. The transaction was structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a local bank. “This was an owner occupied property with significant cash-out,” said Cotsalas. “The rate was aggressive with much loan flexibility including prepayment. The lender was able to work its way through the “E” zoning classification mandated by New York City.”

View Available Industrial Listings

Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales, loan servicing, and fund management. The company combines industry-leading capabilities with a flexible structure, enabling its national team of experienced professionals to create innovative solutions for clients. Northmarq's solid foundation and entrepreneurial approach have built an annual transaction volume of more than $39 billion and a loan servicing portfolio of more than $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit: www.northmarq.com.

Transactions