NorthMarq Capital’s Boston Office finalizes $1.35 million refinancing for Methuen, Massachusetts retail property
Methuen Retail Property
BOSTON (January 5, 2015) – James M. Murphy, managing director of NorthMarq Capital’s Boston regional office secured $1.35 million in financing for a 6,216 sq.ft. retail property located at 194 Haverhill Street in Methuen, Massachusetts. The long-term non-recourse commercial mortgage transaction was structured with a 10-year term and 25-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a regional bank. Major tenants on the property include Bank of American and a UPS store. “The property is a two-tenant retail building located immediately off of I-95 as an out parcel of the Market Basket anchored Merrimac Plaza in Methuen,” said Murphy. “We were pleased to be able to continue a relationship with the borrower that has gone back more than 20-years. The lenders were quick to recognize the quality of the asset, location, tenancy and sponsorship. A regional bank stepped forward with a long-term non-recourse quote.”
About Northmarq
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.
