BOSTON (March 7, 2017) Michael Chase, senior vice president, and Edward Riekstins, managing director, of NorthMarq Capital’s Boston regional office, arranged refinancing of $3,800,000 for three office properties totaling 28,000 sq. ft. located throughout the Boston MSA. The transaction was structured with a long-term fixed rate and flexible prepayment structure. NorthMarq arranged financing for the borrower through its relationship with a local bank.
“We were able to succeed where others failed,” said Chase. “The sponsor did not have luck with a direct lending relationship, and we were able to place the loan request with a banking relationship that was able to meet the client’s requests for proceeds and loan structure.”