Northmarq’s Debt + Equity team arranges $10M refinance of Great Meadow Office Park in Wethersfield, CT

WETHERSFIELD, Conn.  — Northmarq’s New York Metro Debt + Equity team led by Ernest DesRochers and Kevin Toland successfully arranged the $10 million refinance of Great Meadow Office Park, a 165,116-sq.-ft. general office property located at 100 Great Meadow Rd. in Wethersfield, Connecticut. This placement was done in cooperation with long-time Northmarq collaborator Ray Smith of Ray Smith and Associates.

Northmarq arranged the permanent fixed financing on behalf of the borrower, 100 Great Meadow Road Associates LLC, through a correspondent relationship with Securian Asset Management Inc. The transaction was structured for a 10-year term.

“New office building loans represent a significant challenge in today’s lending environment,” said DesRochers. “Great Meadow has weathered market challenges well with 95% overall leasing at closing. Coupled with excellent tenant amenities and strong and attentive sponsorship, the lender was quickly able to recognize this loan represented an excellent lending opportunity.”

Built in 1985 and refurbished as needed, Great Meadow Office Park sits on 9.13 acres tucked along the Connecticut River and conveniently located along Interstate 91. It is roughly five miles southeast of Hartford. The building features seven stories and 32 tenants, an atrium, a well-regarded restaurant and a conferencing facility.

Access to regional highways, the Hartford Amtrak Station and Bradley International Airport are all within a short drive.