BOSTON (May 24, 2016) – Michael Chase, vice president of NorthMarq Capital’s Boston office, arranged the $2.4 million refinance of Longwater Circle, an office property located in Norwell, Massachusetts. The commercial mortgage transaction featured long-term fixed-rate for over 10-years with a 30-year amortization and a flexible prepayment schedule. NorthMarq arranged financing for the borrower through its relationship with a regional bank.
“While the property is a well located quality asset, the key to this transaction was strength of the sponsorship,” said Chase. “Lenders were eager to have an opportunity to work with one of the premier real estate groups on the south shore. We were pleased to be able to meet the client’s request for providing competitive long-term fixed-rate financing.”
