NEW YORK CITY (November 18, 2014) Keith Braddish, managing director of NorthMarq Capital’s New York metro based regional office arranged the $29 million refinance of Madison Park Office Complex. The property, located at 5660 and 6550 University Parkway in Winston-Salem, North Carolina contains a total of 7, three story office buildings with a total of 485,954 sq. ft. The transaction was structured with a 10-year term and 30-year amortization schedule with 3 years of interest only. Lowe’s, Blue Cross Blue Shield and National General Insurance represent the property’s major tenants. “This was another full-circle deal where bridge financing was balance sheeted by Wells Fargo and subsequently taken out with a CMBS loan from Wells Fargo 18 months later,” said Braddish. “This long term fixed rate financing allowed the borrower to repatriate their equity and also allowed for release provisions within the collateral package. This is now the third financing this borrower has completed with Wells Fargo.”
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.
