NorthMarq Capital’s New York City office arranges acquisition financing of $8.5 million for Marine Park Retail in Brooklyn

Marine Park Retail

NEW YORK CITY (December 12, 2016) – Ernest DesRochers, senior vice president and managing director of NorthMarq’s New York City office, arranged acquisition financing of $8.5 million for Marine Park Retail, a 11,764 sq. ft. net-leased retail property located at 2343 Utica Avenue in Brooklyn, New York. The transaction was structured with a 10-year term on a 25-year amortization schedule. NorthMarq arranged financing for the borrower through its correspondent relationship with Symetra. “The loan is secured by a fully-occupied three-tenant retail building in the Marine Park neighborhood of Brooklyn, New York,” said DesRochers. “The loan metrics were conservative, exceeding institutional standards for similar properties.”

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:

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