Retail (MT)
Debt & Equity

NorthMarq Capital arranges $1.8 million refinance for retail strip mall in Methuen, Massachusetts

BOSTON (May 28, 2014) – Ed Riekstins, senior vice president and Matt Marshall, vice president of NorthMarq Capital’s Boston based regional office secured a $1.8 million refinance for Mid-Town Mall, a 14,632 sq.ft. retail property located at 246 Broadway, Methuen, Massachusetts. The transaction was structured with a 20-year term and 20-year amortization schedule. NorthMarq arranged financing for the borrower through its relationship with a local bank. The multi-tenant retail strip mall was 100% leased at the time of the transaction and is strategically located a mile from I-93, giving access to Boston and three miles from I-495, giving access to the outermost boundary of the Greater Boston Area. “The strip mall has been managed by the borrower since 1975 and was rebuilt by the borrower in 1983,” said Riekstins. “The success of the family owned and managed strip mall as well as the continued business with a local bank was critical to the success of the deal.”

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.

94e735af-15ca-44be-a118-2502fa378287
Mid-Town Mall
Debt
$1,800,000