NEW YORK (October 10, 2013) – Ernest DesRochers, senior vice president/managing director of NorthMarq’s New York Metro regional office, and Charles Cotsalas, senior director of NorthMarq’s Long Island regional office, cooperated to arrange acquisition financing of $2.35 million for Hudson Bridge Shopping Center, located at 1465 Hudson Bridge Road, Stockbridge, Georgia. Financing for the 15,729 sq. ft. shopping center was based on a 10-year term and 25-year amortization schedule. The financing facilitated a 1031 Tax Deferred Exchange for the borrowing entity. The loan was arranged by NorthMarq for the borrower, Royal Sunrise Realty, LLC, through its relationship with an Atlanta, GA based credit union. “The transaction occurred over a very tight time frame to accommodate a 1031 Tax Deferred Exchange on behalf of the borrower,” explained DesRochers. “The lender, an Atlanta-based CUBS worked closely with our client to ensure the underwriting process went smoothly and on a timely basis—even when issues came up, they were solved quickly and easily.”
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.
