Northmarq’s Boston office completes acquisition financing of $16.75 million for Fresh Market Village in Jupiter, Florida
BOSTON, MASSACHUSETTS (March 21, 2022) – Daniel Karp, vice president of Northmarq’s Boston-based regional office, arranged acquisition financing of $16.75 million for Fresh Market Village. The 55,046 sq. ft. upscale grocery-anchored retail property (built in 1989 and last renovated in 2014) is located at 287 East Indiantown Road in Jupiter, Florida. The transaction was structured with a 10-year term with 3-years of interest only followed by a 30-year amortization schedule. Northmarq secured the permanent-fixed loan for the borrower through its correspondent relationship with a life insurance company.
“The borrower chose this lender for their ability to offer a 30-year amortization along with 3-years of interest only at a higher leverage point than competitors,” said Karp.
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.
