NorthMarq Capital arranges refinancing of $700,000 for Lincolndale Plaza in Somers, New York
Lincolndale Plaza
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.
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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.
