NorthMarq’s New York and Long Island office arrange $2.85 million refinance of industrial property in Copiague, New York
Industrial Property
LONG ISLAND, NEW YORK (March 1, 2019) – Charles Cotsalas, senior vice president/senior director of NorthMarq’s Long Island-based regional office collaborated with Ernest DesRochers, senior vice president/managing director of NorthMarq’s New York City office to negotiate the $2.85 million refinance for a 46,000 sq. ft. industrial (office warehouse) property located in Copiague, New York. The transaction was structured with a 5-year term. NorthMarq arranged financing for the borrower through its correspondent relationship with Symetra.
“While banks were competitors for the deal, in the end proceeds and rate were what made Symetra the clear choice,” noted DesRochers.
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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.
