NorthMarq Capital arranges $3.125 million refinance of Gateway Center Office Building in Lowell, Massachusetts
Gateway Center Office Building
BOSTON (May 1, 2014) – Ed Riekstins, senior vice president of NorthMarq Capital’s Boston based regional office secured the $3.125 million refinance of the Gateway Center Office Building, a 29,684 sq.ft. property located at 10 George Street in Lowell, Massachusetts. The transaction was structured with a 7-year fixed term and 25-year amortization schedule and was arranged for the borrower by NorthMarq through its relationship with a local bank. People’s United Bank is the major tenant of the building. “The Class-A asset was 100% leased, well maintained and in a great location that provides easy access to all points of interest within the Boston MSA, as well as Maine and New Hampshire,” said Riekstins. “The quality commercial asset was essential to the success of the deal with a local bank.”
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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.
