Arranges $29 million refinance of Madison Park Office Complex in Winston-Salem, North Carolina
Madison Park Office Complex
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.”
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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.
