NorthMarq Capital arranged $2.35 million acquisition for Hudson Bridge Shopping Center in Stockbridge, Georgia
Hudson Bridge Shopping Center
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.”
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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.
