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