Charles Cotsalas arranged $4.5 million permanent loan for Montefiore Medical Center in Bronx, New York

Montefiore Medical Center
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LONG ISLAND, NEW YORK (March 1, 2019) – Charles Cotsalas, senior vice president/senior director of NorthMarq’s Long Island-based regional office, secured the $4.5 million refinance for Montefiore Medical Center, a 20,000 sq. ft. Class A-  medical office property located at 3316 Rochambeau Avenue in Bronx, New York. The transaction was structured with 10-year term. NorthMarq arranged the permanent-fixed loan for the borrower through its correspondent relationship with 40/86 Capital. 

“The subject is a 20,000 sq. ft. medical office building leased to Montefiore Medical Center under a long-term, 15-year lease with annual rent step ups. The "BBB" rated tenant has occupied the site for over 25-years,” said Cotsalas. “40/86 Capital provided the most competitive pricing.”

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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.
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