BOSTON (June 18, 2015) – John Sullivan, senior vice president of NorthMarq Capital’s Boston based regional office completed the $40 million refinance of Gateway Center, a 175,000 sq.ft. office building located in Charlestown, Massachusetts. The transaction was structured with a long-term fixed rate and featured a fast closing. NorthMarq arranged financing for the borrower through its correspondent relationship with a life insurance company.
“The combination of a repeat borrower, property condition and excellent location were major strengths of the transaction,” noted Sullivan. “All parties recognized the value in structuring a long-term refinance at what will surely be an attractive rate for years to come. It was a pleasure to work with both the lender and borrower to complete the deal.”