NorthMarq Capital arranges refinancing of $700,000 for Lincolndale Plaza in Somers, New York
WESTCHESTER (August 2, 2018) – Robert Ranieri, senior vice president of NorthMarq Capital’s Westchester regional office, arranged refinancing of $700,000 for Lincolndale Plaza, a 5,377 sq. ft. retail property located in Somers, New York. The transaction was structured with a 10-year term with (5-year rate resets) on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a local bank.
“The borrower purchased the property in 2016 and was looking to take some money out for additional improvements. Flushing Bank provided a cash-out at an attractive rate,” said Ranieri.
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.
