May 1, 2014

NorthMarq Capital arranges $3.125 million refinance of Gateway Center Office Building in Lowell, Massachusetts

Gateway Center Office Building

Debt & Equity

Multi-Tenant

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 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, Northmarq established itself as a provider of opportunities across all major asset classes. For more information, visit www.Northmarq.com.

Transactions