October 9, 2014

Arranges $24 million refinance of Newington Commons Shopping Center in Newington, Connecticut

Newington Commons Shopping Center

Debt & Equity

Multi-Tenant

NEW YORK METRO (October 7, 2014) – Keith Braddish, managing director of NorthMarq Capital’s New York metro based office arranged the $24 million refinance of Newington Commons Shopping Center, a 189,864 sq.ft. grocery anchored shopping center located at 196 Kitts Lane in Newington, Connecticut. The transaction was structured with a 10-year term along with 2-years of interest only followed by a 30-year amortization schedule. NorthMarq arranged the financing for the borrower through a relationship with a CMBS lender. Stop N’ Shop is the anchor tenant, other tenants include: Bob’s Stores, Party City, Petco, Planet Fitness and Michaels. “This was a full circle CMBS transaction which was originally placed for the same borrower 10-years ago with a CMBS lender and subsequently refinanced with a 10-year, 75% CMBS loan once again,” said Braddish.

Available Retail (MT) 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: www.northmarq.com.