NorthMarq Capital arranged $5.175 million mortgage for Oshkosh Center II in Oshkosh, Wisconsin
Oshkosh Center II
CHICAGO (July 10, 2013) – Jeff Frankel, senior vice president and senior director of NorthMarq’s Chicago regional office, arranged first mortgage refinancing of $5.175 million for Oshkosh Center II, a 107,456 sq. ft. retail property located in Oshkosh, Wisconsin. Mayor tenants at the site are Pick ‘n Save and Office Max. Financing was based on a 10-year term and a 25-year amortization schedule and was arranged for the borrower, a Chicago based limited liability company, by NorthMarq through its relationship with a correspondent life company lender. “The borrower chose to refinance this loan with their existing lender approximately 5 years prior to the loan maturity,” Frankel said. “They took advantage of a structured, fixed prepayment penalty and were able to lower their interest rate by over 2%, while adding on an additional 5 years to the loan maturity.”
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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.
