NorthMarq arranged $4.27 Million Mortgage for Price Rite in Syracuse, NY
Price Rite
ROCHESTER (July 29, 2013) – NorthMarq’s Rochester regional office, and NorthMarq’s North Jersey regional office, cooperated to arrange acquisition financing of $4.27 million for a 33,360 sq. ft. grocery/retail property located on Erie Boulevard in Syracuse, New York. The property is fully leased to Price Rite. Financing was based on a 10-year term and a 30-year amortization schedule. NorthMarq arranged this financing for the New Jersey based institutional sponsor through its relationship with a regional bank.
About Northmarq
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.